A-LevelAccountingPartnerships (Appropriation Account)May/June 2024Paper 1 Q151 Mark
Both partners in a business have a credit balance on their current account. How does the inclusion of interest on drawings affect the financial statements of the partnership? current account balance shares of residual profit
Adecreases decreases
Bdecreases increases
Cincreases decreases
Dincreases increases
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of partnerships (appropriation account) 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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