Cambridge Past Paper Questions

Choose any two of the following Hadiths. (i) الدُّنْيَا سِجْنُ الْمُؤْمِنِ وَجَنَّهُ الكَافِرِ. The world is the believer's prison and the unbeliev...

Choose any two of the following Hadiths. (i) لا يَدْخُلُ النَّارَ أَحَدٌ فِي قلبهِ مِثْقَالُ حَبَّةٍ مِن خَرْدَلٍ مِن إِيمَانِ، وَلا يَدْخُلُ الْجَ...

Choose any two of the following passages from the Qur'an. (i) وَمِنْ آيَاتِهِ اللَّيْلُ وَالنَّهَارُ وَالشَّمْسُ وَالْقَمَرُ لا تَسْجُدُوا لِلشَّمْ...

A business has a good reputation. The owner wishes to include goodwill in the financial statements. An accountant advises against it. Which account...

Why is depreciation provided on non-current assets?

The following information relates to the disposal of a non-current asset. $ profit on disposal 5200 cost of non-current asset sold 14400 sales proc...

Omar wishes to become a trader. He decides to buy an existing business in a good location. He pays more for the business than its net asset value. ...

A sales ledger control account was prepared. An irrecoverable debt of $40 was omitted and a discount allowed of $68 was entered as $86. What was th...

The trial balance totals are as follows: debit $500 150 credit $500 000 Which error could have caused the difference?

A business maintains a provision for doubtful debts of 5% per annum. It has trade receivables balances of $560000 at the start and $468000 at the e...

The statement of the financial position of a company shows the following: $ tangible non-current assets 20 600 intangible non-current assets 5700 t...

An inexperienced bookkeeper calculated a draft profit for the year ended 31 December 2015 of $578 500. He had not accounted for the following: 1 Ja...

A computer used for demonstration to customers was treated as capital expenditure. At the end of the year a customer purchased the computer in the ...

A business makes up its financial statements to 30 April each year. Included in the ledger account balances on 1 May 2014 was insurance (debit) $80...

The statements of financial position of Goh's business showed the following: 30 June 2014 30 June 2015 net assets $152000 $184000 During the year e...

P joined the partnership of G and H. He brought into the business the following assets. non-current assets cost $25000, valued at $38000 inventory ...

X and Y have capital accounts of $50000 each and share profits equally. They plan to admit Z into partnership. The new profit sharing ratio will be...

David and Jane have been business partners for several years, sharing profits in the ratio of 2:1. Jane now wishes to retire. Her capital account a...

Which is not an appropriation of partnership profit?

A limited company intends to issue shares at a price above the nominal value. Which items, apart from bank balance, will be affected by the share i...

A company issues one million ordinary shares of $1 each at $1.30 per share. It also issues a debenture for $500000. What is the increase in the equ...

What is measured by the return on capital employed ratio?

The following ratios have been calculated for two businesses, both with the same revenue of $100000. X Y gross margin 20% 25% profit margin 10% 10%...

A business provides the following information. gross margin 20% $ sales 275325 opening inventory 25450 closing inventory 55975 What are the purchases?

A company provided the following information. material units cost per unit $ opening inventory 100 2.00 receipt of new inventory 400 2.10 issued to...

A production centre uses 20000 machine hours and 17000 labour hours each month. Which formula is used to calculate the overhead absorption rate?

The following information is available. budget actual overheads $60000 $66 000 direct labour 30 000 hours 35 000 hours The overhead absorption rate...

A particular cost is classified as 'semi-variable'. What effect will a 20% reduction in activity have on the unit cost?

A business produces and sells watches. In 2015, 4000 watches were produced and 3600 watches were sold. Other information for the year included the ...

Which items are included in the marginal cost of a unit of production?

Which statements about cost-volume-profit analysis are correct? 1 Profits are calculated on an absorption costing basis. 2 Profits are calculated o...