A-LevelAccountingCorrection of ErrorsMay/June 2024Paper 1 Q111 Mark
After preparing the draft statement of profit or loss, it was discovered that the purchase of an office computer had been incorrectly recorded in the purchases account. What will the effect of correcting this error be on cost of sales and profit for the year? cost of sales profit for the year
Adecrease decrease
Bdecrease increase
Cincrease decrease
Dincrease increase
✓ Correct Answer
The correct answer is B. 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...
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