Accounting 0452 · IGCSE · Correction of errors

Correction of errors — practice question

Kate worked out her provisional profit for the year as $28\,400$. She then found the following mistakes: 1. Rent prepaid by Kate had been recorded too low by $1000$. 2. Closing inventory had been recorded too low by $1500$. What is the correct profit for the year?

  • A$25\,900$
  • B$27\,900$
  • C$28\,900$
  • D$30\,900$

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI