O-LevelAccountingVerification of accounting recordsOct/Nov 2010 · Q291 Mark

Inventory (stock) at 31 December 2008 was overstated by $6000. What was the effect on the gross profit for the year ended 31 December 2009? A $6000 overstated B $6000 understated C $12 000 overstated D $12 000 understated

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2010). The mark or mark type is shown in brackets.

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Topic: Verification of accounting records, O-Level Accounting (syllabus 7707). Structured question, 1 mark.
Source: O-Level Accounting, Oct/Nov 2010 Variant 1, question 29.

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