Ib G Jun17 Accn2 Mark Scheme

Ib G Jun17 Accn2 Mark Scheme May 2026

Introduction

Final Notes on Using This Guide

Q: Can I use this mark scheme to predict future exam questions?

A: Not directly. However, the skills tested (adjustments, reconciliations, ratio analysis) are highly predictable. Use the mark scheme to perfect those skills.

The mark scheme for this period utilizes a specific coding system to ensure fairness across all examiners. 1. The "Own Figure" (OF) Rule Ib G Jun17 Accn2 Mark Scheme

Total

| 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 | | Introduction Final Notes on Using This Guide Q:

How to Use the Mark Scheme for Maximum Revision

Own figure rule (ofr):

Clearly states where error carried forward applies. This rewards students for consistent subsequent work even if an earlier calculation was wrong — very fair for accounting where steps build on each other. The "Pre-prepared" Answer: The MS is designed to

  1. The "Pre-prepared" Answer: The MS is designed to catch generic answers. In June 2017, examiners noted that many students memorized generic paragraphs on the Demographic Transition Model (DTM). Unless the student explicitly applied the DTM to the specific country or data in the question, marks were withheld.
  2. Lack of Evaluation in 15-markers: Many students provided descriptive essays for 15-mark questions. The MS explicitly states that Level 3 requires an evaluative conclusion. A description of facts yields a maximum of 10 marks, regardless of how detailed the description is.
  3. Ignoring the "Command Term":