A-LevelAccountingProvisions and ReservesOct/Nov 2012Paper 1 Q31 Mark
The following items appear in a statement of financial position. • an estimate of a liability in a court case, the outcome of which is uncertain • an unrealised surplus from the revaluation of a non-current asset • accumulated depreciation on non-current assets • an estimate of future loss arising from bad debts How many of these are provisions and how many are reserves?
A1 3
B2 2
C3 1
D4 0
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of provisions and reserves 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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