A-LevelAccountingAccruals and PrepaymentsOct/Nov 2012Paper 1 Q11 Mark
Rent for premises is paid monthly in advance on the first day of each month. The payments during the last financial year were as follows. up to and including 1 January $1000 per month from 1 February $1200 per month Which amount(s) will appear in the financial statements for the year ended 30 April?
A$12 400 --
B$12 600 --
C$12 600 $1200 accrual
D$12 600 $1200 prepaid
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of accruals and prepayments 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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