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Kindly do you have idea about marks in exam (i.e. In published account question” redraft the statement” … If I calculated the one amount related to two statements SFP , SOCI & SCI wrong , so will I lose the mark related to one account in the two statements twice or in one statement? As I mentioned above if you have idea …. If my question not related to this part , kindly ignore it….
Ask yourself “How many times can I be punished for making ONE mistake?” Now, does that answer your question? And don’t forget, if you make a mistake, there are likely going to be many others who have made the same mistake. the marker will alreday be used to seeing these incorrect figures – so don’t worry. trust the marker – they are conscientious people.
Hi. I have a question about Q3. If I get the calculation of a ratio correct but the answer wrong, will I lose marks?
How do you get the answer wrong if you’ve calculated the ratio correctly. If you mean “Is my interpretation of the ratio incorrect?” well, it depends if your interpretation is viable . A fall in the average collection period could be seen as “good news” – a stronger credit control department, or “bad news” – the company is so strapped for cash that it is having to pursue its customers excessively aggressively.
There’s often a whole range of possible explanations for the movement in a statistic so, really, there isn’t just one “correct” answer.
It’s your interpretation which is important. However, if you say – when talking about collection periods which have fallen this year as compared with last year “The collection period has fallen because the credit control department is failing to do its job and customers are taking excessive credit” that would be a totally incorrect interpretation and you wouldn’t score. You would nevertheless score for your correct calculation but only, say, .5 out of the potential 2 marks for that bit of the question
What I meant is I wrote the formula with the numbers correct but pressed the wrong buttons on the calculator, hence an ‘incorrect’ ratio. Will I be penalised for this? Thank you for some interps.
Hi, no – if you have written the formula correctly and then pressed the wrong buttons, you should NOT be penalised. When your interpretation is based on your incorrect calculations, the marker should read your interpretation to determine whether it is reasonable based on those wrong figures.
Have faith!
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