A-LevelAccountingInventory ValuationOct/Nov 2011Paper 1 Q51 Mark
The table shows information for a business at 31 March in Year 1. inventory $ 16 100 trade payables 5 200 other payables 2 000 The information excludes the purchase of $3700 of goods. These goods were delivered on 31 March Year 1, but the invoice states that legal title to the goods does not pass until payment is received. Which values should appear in the balance sheet on 31 March Year 1? inventory $ trade payables $ other payables $
A16 100 5200 2000
B16 100 5200 5700
C19 800 5200 5700
D19 800 8900 2000
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of inventory valuation within the Accountingsyllabus. The examiner's mark scheme requires...
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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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