A-level
ACCOUNTING
7127/1
Paper 1 Financial Accounting
Mark scheme
June 2025
Version: 1.0 Final Mark Scheme
*206A7127/1/MS*
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2020
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that mevery massociate munderstands mand mapplies mit min mthe msame
mcorrect mway.
As mpreparation mfor mstandardisation meach massociate manalyses ma mnumber mof mstudents’ mscripts.
m Alternative manswers mnot malready mcovered mby mthe mmark mscheme mare mdiscussed mand mlegislated
mfor. m If, mafter mthe mstandardisation mprocess, massociates mencounter munusual manswers mwhich mhave
mnot mbeen mraised mthey mare mrequired mto mrefer mthese mto mthe mLead mExaminer.
It mmust mbe mstressed mthat ma mmark mscheme mis ma mworking mdocument, min mmany mcases mfurther
mdeveloped mand mexpanded mon mthe mbasis mof mstudents’ mreactions mto ma mparticular mpaper.
m Assumptions mabout mfuture mmark mschemes mon mthe mbasis mof mone myear’s mdocument mshould
mbe mavoided; mwhilst mthe mguiding mprinciples mof massessment mremain mconstant, mdetails mwill
mchange, mdepending mon mthe mcontent mof ma mparticular mexamination mpaper.
Further mcopies mof mthis mmark mscheme mare mavailable mfrom maqa.org.uk.
Copyright minformation
AQA mretains mthe mcopyright mon mall mits mpublications. mHowever, mregistered mschools/colleges mfor mAQA mare mpermitted mto mcopy
mmaterial mfrom mthis mbooklet mfor mtheir mown m internal muse, mwith mthe mfollowing mimportant mexception: mAQA mcannot mgive mpermission
mto mschools/colleges mto mphotocopy many mmaterial mthat mis macknowledged mto ma mthird m party meven mfor minternal muse mwithin mthe
mcentre.
2
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2020
Copyright m© m2020 mAQA mand mits mlicensors. mAll mrights mreserved.
3
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2020
Level mof mresponse mmarking minstructions
Level mof mresponse mmark mschemes mare mbroken mdown minto mlevels, meach mof mwhich mhas ma
mdescriptor. mThe mdescriptor mfor mthe mlevel mshows mthe maverage mperformance mfor mthe mlevel. mThere
mare mmarks min meach mlevel.
Before myou mapply mthe mmark mscheme mto ma mstudent’s manswer mread mthrough mthe manswer mand
mannotate mit m(as minstructed) mto mshow mthe mqualities mthat mare mbeing mlooked mfor. mYou mcan mthen
mapply mthe mmark mscheme.
Step m1 mDetermine ma mlevel
Start mat mthe mlowest mlevel mof mthe mmark mscheme mand muse mit mas ma mladder mto msee mwhether
mthe manswer mmeets mthe mdescriptor mfor mthat mlevel. mThe mdescriptor mfor mthe mlevel mindicates
mthe mdifferent mqualities mthat mmight mbe mseen min mthe mstudent’s manswer mfor mthat mlevel. mIf mit
mmeets mthe mlowest mlevel mthen mgo mto mthe mnext mone mand mdecide mif mit mmeets mthis mlevel,
mand mso mon, muntil myou mhave ma mmatch mbetween mthe mlevel mdescriptor mand mthe manswer. mWith
mpractice mand mfamiliarity myou mwill mfind mthat mfor mbetter manswers myou mwill mbe mable mto mquickly
mskip mthrough mthe mlower mlevels mof mthe mmark mscheme.
When massigning ma mlevel myou mshould mlook mat mthe moverall mquality mof mthe manswer mand mnot
mlook mto mpick mholes min msmall mand mspecific mparts mof mthe manswer mwhere mthe mstudent mhas
mnot mperformed mquite mas mwell mas mthe mrest. mIf mthe manswer mcovers mdifferent maspects mof
mdifferent mlevels mof mthe mmark mscheme myou mshould muse ma mbest mfit mapproach mfor mdefining
mthe mlevel mand mthen muse mthe mvariability mof mthe mresponse mto mhelp mdecide mthe mmark mwithin
mthe mlevel, mi.e. mif mthe mresponse mis mpredominantly mlevel m3 mwith ma msmall mamount mof mlevel m4
mmaterial mit mwould mbe mplaced min mlevel m3 mbut mbe mawarded ma mmark mnear mthe mtop mof mthe
mlevel mbecause mof mthe mlevel m4 mcontent.
Step m2 mDetermine ma mmark
Once myou mhave massigned ma mlevel myou mneed mto mdecide mon mthe mmark. mThe mdescriptors mon
mhow mto mallocate mmarks mcan mhelp mwith mthis. mThe mexemplar mmaterials mused mduring
mstandardisation mwill mhelp. mThere mwill mbe man manswer min mthe mstandardising mmaterials mwhich
mwill mcorrespond mwith meach mlevel mof mthe mmark mscheme. mThis manswer mwill mhave mbeen
mawarded ma mmark mby mthe mLead mExaminer. mYou mcan mcompare mthe mstudent’s manswer mwith
mthe mexample mto mdetermine mif mit mis mthe msame mstandard, mbetter mor mworse mthan mthe mexample.
mYou mcan mthen muse mthis mto mallocate ma mmark mfor mthe manswer mbased mon mthe mLead
mExaminer’s mmark mon mthe mexample.
You mmay mwell mneed mto mread mback mthrough mthe manswer mas myou mapply mthe mmark mscheme mto
mclarify mpoints mand massure myourself mthat mthe mlevel mand mthe mmark mare mappropriate.
Indicative mcontent min mthe mmark mscheme mis mprovided mas ma mguide mfor mexaminers. mIt mis mnot
mintended mto mbe mexhaustive mand myou mmust mcredit mother mvalid mpoints. mStudents mdo mnot
mhave mto mcover mall mof mthe mpoints mmentioned min mthe mIndicative mcontent mto mreach mthe
mhighest mlevel mof mthe mmark mscheme.
An manswer mwhich mcontains mnothing mof mrelevance mto mthe mquestion mmust mbe mawarded mno mmarks.
4
ACCOUNTING
7127/1
Paper 1 Financial Accounting
Mark scheme
June 2025
Version: 1.0 Final Mark Scheme
*206A7127/1/MS*
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2020
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that mevery massociate munderstands mand mapplies mit min mthe msame
mcorrect mway.
As mpreparation mfor mstandardisation meach massociate manalyses ma mnumber mof mstudents’ mscripts.
m Alternative manswers mnot malready mcovered mby mthe mmark mscheme mare mdiscussed mand mlegislated
mfor. m If, mafter mthe mstandardisation mprocess, massociates mencounter munusual manswers mwhich mhave
mnot mbeen mraised mthey mare mrequired mto mrefer mthese mto mthe mLead mExaminer.
It mmust mbe mstressed mthat ma mmark mscheme mis ma mworking mdocument, min mmany mcases mfurther
mdeveloped mand mexpanded mon mthe mbasis mof mstudents’ mreactions mto ma mparticular mpaper.
m Assumptions mabout mfuture mmark mschemes mon mthe mbasis mof mone myear’s mdocument mshould
mbe mavoided; mwhilst mthe mguiding mprinciples mof massessment mremain mconstant, mdetails mwill
mchange, mdepending mon mthe mcontent mof ma mparticular mexamination mpaper.
Further mcopies mof mthis mmark mscheme mare mavailable mfrom maqa.org.uk.
Copyright minformation
AQA mretains mthe mcopyright mon mall mits mpublications. mHowever, mregistered mschools/colleges mfor mAQA mare mpermitted mto mcopy
mmaterial mfrom mthis mbooklet mfor mtheir mown m internal muse, mwith mthe mfollowing mimportant mexception: mAQA mcannot mgive mpermission
mto mschools/colleges mto mphotocopy many mmaterial mthat mis macknowledged mto ma mthird m party meven mfor minternal muse mwithin mthe
mcentre.
2
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2020
Copyright m© m2020 mAQA mand mits mlicensors. mAll mrights mreserved.
3
, MARK SCHEME – A-LEVEL ACCOUNTING – 7127/1 – JUNE 2020
Level mof mresponse mmarking minstructions
Level mof mresponse mmark mschemes mare mbroken mdown minto mlevels, meach mof mwhich mhas ma
mdescriptor. mThe mdescriptor mfor mthe mlevel mshows mthe maverage mperformance mfor mthe mlevel. mThere
mare mmarks min meach mlevel.
Before myou mapply mthe mmark mscheme mto ma mstudent’s manswer mread mthrough mthe manswer mand
mannotate mit m(as minstructed) mto mshow mthe mqualities mthat mare mbeing mlooked mfor. mYou mcan mthen
mapply mthe mmark mscheme.
Step m1 mDetermine ma mlevel
Start mat mthe mlowest mlevel mof mthe mmark mscheme mand muse mit mas ma mladder mto msee mwhether
mthe manswer mmeets mthe mdescriptor mfor mthat mlevel. mThe mdescriptor mfor mthe mlevel mindicates
mthe mdifferent mqualities mthat mmight mbe mseen min mthe mstudent’s manswer mfor mthat mlevel. mIf mit
mmeets mthe mlowest mlevel mthen mgo mto mthe mnext mone mand mdecide mif mit mmeets mthis mlevel,
mand mso mon, muntil myou mhave ma mmatch mbetween mthe mlevel mdescriptor mand mthe manswer. mWith
mpractice mand mfamiliarity myou mwill mfind mthat mfor mbetter manswers myou mwill mbe mable mto mquickly
mskip mthrough mthe mlower mlevels mof mthe mmark mscheme.
When massigning ma mlevel myou mshould mlook mat mthe moverall mquality mof mthe manswer mand mnot
mlook mto mpick mholes min msmall mand mspecific mparts mof mthe manswer mwhere mthe mstudent mhas
mnot mperformed mquite mas mwell mas mthe mrest. mIf mthe manswer mcovers mdifferent maspects mof
mdifferent mlevels mof mthe mmark mscheme myou mshould muse ma mbest mfit mapproach mfor mdefining
mthe mlevel mand mthen muse mthe mvariability mof mthe mresponse mto mhelp mdecide mthe mmark mwithin
mthe mlevel, mi.e. mif mthe mresponse mis mpredominantly mlevel m3 mwith ma msmall mamount mof mlevel m4
mmaterial mit mwould mbe mplaced min mlevel m3 mbut mbe mawarded ma mmark mnear mthe mtop mof mthe
mlevel mbecause mof mthe mlevel m4 mcontent.
Step m2 mDetermine ma mmark
Once myou mhave massigned ma mlevel myou mneed mto mdecide mon mthe mmark. mThe mdescriptors mon
mhow mto mallocate mmarks mcan mhelp mwith mthis. mThe mexemplar mmaterials mused mduring
mstandardisation mwill mhelp. mThere mwill mbe man manswer min mthe mstandardising mmaterials mwhich
mwill mcorrespond mwith meach mlevel mof mthe mmark mscheme. mThis manswer mwill mhave mbeen
mawarded ma mmark mby mthe mLead mExaminer. mYou mcan mcompare mthe mstudent’s manswer mwith
mthe mexample mto mdetermine mif mit mis mthe msame mstandard, mbetter mor mworse mthan mthe mexample.
mYou mcan mthen muse mthis mto mallocate ma mmark mfor mthe manswer mbased mon mthe mLead
mExaminer’s mmark mon mthe mexample.
You mmay mwell mneed mto mread mback mthrough mthe manswer mas myou mapply mthe mmark mscheme mto
mclarify mpoints mand massure myourself mthat mthe mlevel mand mthe mmark mare mappropriate.
Indicative mcontent min mthe mmark mscheme mis mprovided mas ma mguide mfor mexaminers. mIt mis mnot
mintended mto mbe mexhaustive mand myou mmust mcredit mother mvalid mpoints. mStudents mdo mnot
mhave mto mcover mall mof mthe mpoints mmentioned min mthe mIndicative mcontent mto mreach mthe
mhighest mlevel mof mthe mmark mscheme.
An manswer mwhich mcontains mnothing mof mrelevance mto mthe mquestion mmust mbe mawarded mno mmarks.
4
