Accounting 9706/22 March 2022 | Cambridge AS Level Past Papers With Mark Scheme

1. Benefits of maintaining full accounting records, including financial transparency and error detection.

2. Partnership adjustments for retirement, goodwill valuation, and capital account restructuring.

3. Overhead apportionment and absorption rate calculations, including service department cost distribution.

4. Break-even analysis and marginal costing for production optimization and cost-efficiency.

5. Financial decision-making for business expansion, comparing options involving rights issues and equipment financing.

6. Budgetary control benefits, such as cost monitoring, and limitations like inflexibility and potential inaccuracies in dynamic environments.