A-LevelAccountingBudgetingOct/Nov 2013Paper 1 Q301 Mark
Ted plans to buy a motor vehicle for $12000 on 1 May 2014. He intends to pay half at the time of purchase and to take out a loan at 6% interest a year to finance the balance. The loan is to be repaid on 1 November 2014. Which figures does Ted include in his cash budget for 2014? May $ November $
A6000
6000
B6000
6180
C12000
0
D12000
180
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of budgeting 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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