A-LevelAccountingFinancial Statements of Sole TradersOct/Nov 2013Paper 1 Q191 Mark
The following financial information was provided at 31 December 2012. $ purchases 95.000 returns inwards 3300 returns outwards 2100 inventory withdrawn for personal use 5000 Inventory on 31 December 2012 was valued at $1000 more than on 1 January 2012. What was the cost of sales?
A$85700
B$86 900
C$89000
D$97 100
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of financial statements of sole traders 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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