Typical scenario: A fire destroyed stock. Given: opening capital, bank statements, receipts from debtors, payments to creditors, drawings, gross profit margin 40%.
Mark scheme (sequential):
| 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 | | Total | 15 | | Ib G Jun17 Accn2 Mark Scheme
Alternative method: Using net assets to find profit, then reconstructing stock.
Examiner’s note: Marks are heavily weighted for showing the algebra and re-arrangement of accounting equations. A numerical answer alone without working gets at most 1 mark. Deep review — "IB G Jun17 Accn2 Mark
Question Example: "Examine the impacts of anti-natalist population policies."
The Mark Scheme Criteria:
Print the blank Jun17 ACCN2 question paper. Set a timer for 1 hour 30 minutes (or 2 hours if full A-Level). No notes, no calculator help except a basic one.
"Ib G Jun17 Accn2 Mark Scheme" refers to the mark scheme for the International Baccalaureate (IB) examination paper: likely Group (G) — Accounting HL/SL or similar — from the June 2017 session, question/component labeled "Accn2" (Accounting 2). The mark scheme explains how examiners allocate marks, expected answers, command terms, and common candidate errors. A deep review covers structure, scoring patterns, typical student weaknesses, and how to use the mark scheme to improve performance. IB Geography HL Paper 2: June 2017 Mark