A-LevelAccountingControl AccountsOct/Nov 2013Paper 1 Q121 Mark
During the financial year a business receives $620000 from its trade receivables after allowing cash discounts of $30000. At the start of the year trade receivables owed $47000. At the end of the year trade receivables owed $40000. What was the amount of credit sales made during the year?
A$613000
B$627000
C$643 000
D$657000
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of control accounts 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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