A-LevelAccountingAccruals and PrepaymentsOct/Nov 2015Paper 1 Q21 Mark
A trader sends his staff on a training course costing $100 per person. 10 staff attended in April and 4 in May. Half the total cost had to be paid at the start of April and the balance at the end of May. Which entry for training was made in the statement of financial position on 30 April?
A$300 accrual
B$400 accrual
C$600 prepayment
D$700 prepayment
✓ Correct Answer
The correct answer is A. 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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