A-LevelAccountingCorrection of ErrorsMay/June 2024Paper 1 Q71 Mark
The following errors in the accounting records have been found and corrected. 1 A purchase invoice for $250 was omitted from the books of account. 2 A sale for $120 to X was debited to the account of Y. 3 The sales journal was overcast by $100. The gross profit for the year before correcting the errors was $60 200. What is the correct gross profit for the year?
A$59 850
B$59 970
C$60 350
D$60 550
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of correction of errors 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...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep