O-LevelAccountingVerification of accounting records7707/12 · May/June 2025 · Q81 Mark

Michael opened a suspense account when he prepared draft financial statements. He then discovered that purchases of $68 had been credited to the purchases account as $86. Which entry was made in the suspense account when this error was corrected?

A$18 credit

B$18 debit

C$154 credit

D$154 debit

✓ Correct answer

C: $154 credit

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Topic: Verification of accounting records, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2025 Paper 1 Variant 2, question 8.

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Michael opened a suspense account when he prepared draft financial statements. He then discovered that purchases of $68 had been credited to the purchases account as $86. Which entry was made in the suspense account when this error was corrected?

✓ Correct answer

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About this question

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