A-LevelAccountingSole TradersMay/June 2024Paper 1 Q11 Mark
Which statements relate to a sole trader? 1 The business is a separate legal entity. 2 There is no separation between ownership and control. 3 Some of the profit is used to pay interest on the owner's capital. 4 There is no legal requirement to keep full accounting records.
A1, 3 and 4
B1 and 3 only
C2 and 3
D2 and 4
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of sole traders within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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