A-LevelAccountingSole Trader Accounts / Capital and Profit CalculationOct/Nov 2009Paper 1 Q121 Mark
The summarised balance sheets for a business for two years are as follows. year 1 $ year 2 $ fixed assets 9 000 12 000 current assets 6 000 8 000 less current liabilities (5 000) (6 000) net assets 10 000 14 000 The drawings in year 1 were $5000 and in year 2 $3000. What is the net profit for year 2?
A$1000
B$4000
C$5000
D$7000
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of sole trader accounts / capital and profit calculation 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