Accounts Help

[Mr.Pakistan]

What was the answer for q28 which involved materiality concept! i ticked option A that is excluding stapler worth $5 from the list! I think i am wrong but then materiality concept says something else!! PLz n e 1???

 

[XPF MASTER]

any answer that included COMPUTER was WRONG!!!

 

[Momina-Z]

it was evrything xcept computer!so i guess stapler shredder n anoda low valued thing

 

[XPF MASTER]

thats what i am saying... dont worry bunty just dont do such mistakes in P2..

 

[Mr.Pakistan]

yup thats correct but yaar why the heck they included MATERIALITY it took me away! and i excluded the lowest valued item! but then they also said of the revenue expenditure!!Acha what was the question that involved wages!! was the answer 49500 ?? does any one remember the question?

 

[Mr.Pakistan]

yaar i just want to get hundered in accounts!! nw 29 in p1!! pls pray!! bcz my teacher has always discouraged me nd nw i want to show him!! i got full in mocks btw!

 

[XPF MASTER]

INSHALLAH ull get an A*... just do ur best and the condition in which u r with ur teachers is the same as mine

 

[hammadthepcgeek]

yaar i just want to get hundered in accounts!! nw 29 in p1!! pls pray!! bcz my teacher has always discouraged me nd nw i want to show him!! i got full in mocks btw!

Well, dude this keeps on happening. But dun worry, we have the advvantages of percentile. So see, if the average candidate performs poorer than you do in Paper 2 of Accounts, you would get your % lifted by it. Remember you can get 100% uniform mark without actually getting 100% on the question paper.

As about Question no 28, I am sorry to tell you that you were wrong.I think you deduced the concept right but you forgot the REQUIREMENT of the question. It asked which items would be recorded as revenue expenditure. So, hence, stapler, document shredder and calculator were of very low value compared to the computer and theoretically would have been treated as revenue expenditure. Computer would be a capital expenditure item

Anyways, like I said just work hard for the next paper. Its the real test for us I Mashallah did all MCQs right and now am aiming to get full in P2 too! Guys, pray for my distinction!

And lastly, I think you know me asadbunty

 

[Mr.Pakistan]

yea i noe u very wel i recognized u on the very first moment when i saw ur name!!! welcome to XPF forums!! well who told u abt it ?? i hav asked samad aswell to make his account!! Its better than fb atleast we r learning something!!