A: Yes, “Ib” likely refers to the internal paper reference (e.g., Paper IB/G/Jun17/E4). It is the same document.
For discussion questions (e.g., “Explain two limitations of a budget”), the mark scheme gives point-marking but not exemplar student paragraphs — so it’s less helpful for improving exam technique on 4–6 mark “explain” or “evaluate” questions. Ib G Jun17 Accn2 Mark Scheme
Calculating adjustments to trade receivables (e.g., adjusting a £24,600 balance by a 3% provision to reach £738) and recording the change in provision (e.g., a £62 or £80 change depending on initial figures). A: Yes, “Ib” likely refers to the internal
| Step | Action | Marks | |------|--------|-------| | 1 | Calculate credit sales: opening receivables + sales – receipts = closing receivables (rearrange) | 3 | | 2 | Calculate credit purchases: closing payables + payments – opening payables | 3 | | 3 | Calculate cost of sales: opening stock + purchases – closing stock (unknown) | 2 | | 4 | Use gross profit margin: Sales × 40% = gross profit → then cost of sales = sales × 60% | 3 | | 5 | Solve for closing stock: cost of sales = opening stock + purchases – closing stock | 3 | | 6 | Conclude stock lost = closing stock (since fire destroyed all) | 1 | | | 15 | | Calculating adjustments to trade receivables (e
The is more than a solution booklet. It is a roadmap to the examiner’s mind. By studying how marks are allocated, where method marks are awarded, and what constitutes an acceptable alternative, you will not only improve your grade for that specific paper but also build the rigorous, disciplined thinking required for professional accounting exams (ACCA, CIMA, CPA).
Sole trader or partnership.