Cambridge & Pearson Edexcel Past Paper Questions
Browse 35,704 questions from Cambridge O-Level & A-Level and Pearson Edexcel IGCSE & IAL exams. Click any question to practice.
What are the advantages to shareholders of operating as a limited company? 1 It has a separate legal identity. 2 It makes it easier to prepare fina...
During the year ended 31 March 2025, subscriptions received by a club amounted to $2500, of which $120 related to the next financial year. On 31 Ma...
The bank account kept by a sports club shows that subscriptions totalling $2695 were received during the financial year. This figure includes arrea...
A tennis club sells refreshments on match days. At the end of the first accounting period, the receipts and payments account included the following...
A manufacturing business calculated the following amounts for the year ended 30 April 2025: prime cost: $360000 factory overheads: $114850 work in ...
Which items are included in the calculation of prime cost in a manufacturing account?
A manufacturer's work in progress at the start of the year was valued at $850. At the end of the year it was valued at $10200. What was the effect ...
Gustav began a business on 1 January 2023 with $50000 capital. He provided the following information for the year ended 31 December 2024: capital o...
The following information is available at the end of Savid's first year of trading: Amount owed by credit customers: $9600 Amount owed to credit su...
Which statement is a limitation of the comparison of the accounting ratios of different businesses?
Maluti has a trading business that has a bank overdraft and makes a profit. Why would the government be most interested in the financial statements...
Vikram wanted to apply the principle of consistency when accounting for the use of his delivery van. What did this require?
Benson wanted to compare his profitability with that of his competitors. However, the completion of his financial statements was significantly dela...
Anika started in business on 1 March 2024, but she did not start to keep full book-keeping records until 1 March 2025. Anika's assets and liabilit...
Mo is a farmer. He prepares his financial statements to 31 December each year. He delivers his farm produce to his customers in his delivery vehicl...
Nabil prepared a trial balance at 30 April 2025. The total of the debit side was $95428, and the total of the credit side was $95156. Nabil placed ...
H Limited prepares its financial statements to 30 April each year. During the year ended 30 April 2025, the following took place: 1 The company m...
Grace owns a factory which makes shoes. She buys handbags from a supplier and sells the shoes and handbags. Grace prepares her financial statement...
Kadima is a trader. He sells on credit only. During March 2025, the following transactions took place. March 4 Paid Lee, $196, by bank transfer in ...
Farah and Salma are sisters who trade as a partnership. Their partnership agreement provides for the following: • interest on capital of 2% per ann...
Jasmine owns a consulting business. At 1 April 2024, Jasmine's ledger accounts included the following balances. Motor vehicles $16000 Provision for...
Bilal prepared a trial balance at 31 December 2024. Bilal later discovered the following errors. 1 Goods taken for Bilal's own use, costing $185, h...
Rexford is a trader. All his sales and purchases are on credit. He does not keep a full set of accounting records but has provided the following in...
A trader prepares financial statements (final accounts) each year. What do these assist the trader to do? A calculate the amount owing to creditors...
Which does not reduce the owner's capital? A business expenses paid using a personal cheque B cash withdrawn from the business bank account for per...
A customer returns goods to a supplier. How does the supplier record this in his ledger? account to be debited | account to be credited A customer ...
Which transaction is recorded in the purchases ledger? A cash purchases B cheque paid to a creditor C cheque received from a debtor D purchase of n...
Which document may be sent by a purchaser to a supplier when damaged goods are returned? A credit note B debit note C invoice D statement of account
Where is the total of the purchases journal posted? A credit income statement (trading account) B debit income statement (trading account) C credit...
Wayne sold goods with a list price of $5000 to a credit customer. The customer was allowed a 5% trade discount and a further 2½% cash discount if p...
The totals of the discount columns in a trader's cash book were as follows. $200 debit $150 credit Which entry did the trader make in the discount ...
On 1 September the bank statement showed an overdrawn balance of $2015. A refund for insurance, $74, and bank charges, $86, have not been entered i...
Sarah bought a motor vehicle on credit from Ace Motors for $8000. Which journal entry did Sarah make to record this? | debit $\ | credit $\ A Ace ...
The following incomplete account appears in Singh's sales ledger. Bashir account 2010 | debit $\ | credit $\ | balance $\ June 1 Balance | | | 800...
The following account appears in the ledger of Chan. Fu account 2010 | $ | 2010 | $\ Aug 28 Bank | 100 | Aug 1 Balance b/d | 100 31 Balance c/d | ...
A cheque received from Joe was credited to Joanna's account. Which type of error was made? A commission B compensating C original entry D principle
Paul's financial year ends on 31 December. He purchased premises on 1 July 2008. The insurance premium payable on the premises was: 1 July 2008 – 3...
A trader decides to change his provision for doubtful debts from 2% of trade receivables (debtors) to 3% of trade receivables (debtors). Which entr...
A restaurant spends the following amounts. cutlery | 500 food | 5000 plates | 1500 drinks | 3000 What is the amount of capital expenditure? A $2000...
Sam buys a new computer for business use and the cost is debited to the purchases account. What is the effect of this error on the profit for the y...
Mandy depreciates her motor vehicles annually. Which journal entry records the depreciation for the year ended 31 December 2009? debit $\ | credit ...
Zafar purchased a motor vehicle for $4800. He estimated the residual value will be $300. Zafar decided to write off the motor vehicle over 4 years....
Which will not appear in a sales ledger control account? A discounts allowed B interest charged on overdue accounts C provision for doubtful debts ...
Beth provided the following information. 1 January | 31 December Net assets | $28 000 | $24 000 Her drawings during the year amounted to $3000. Wha...
What affects gross profit? A carriage outwards B discounts allowed C discounts received D goods taken by owner for own use
Which would not appear in a balance sheet? A carriage inwards accrued B gross profit for the year C provision for depreciation of fittings D rent r...
Which appears in a sports club's receipts and payments account? A accrued expenses B accumulated fund C bank balance D subscriptions in arrears
On 1 January 2009 a club had received prepaid subscriptions of $560. During the year ended 31 December 2009 the club received subscriptions of $848...
A statement of affairs may be prepared when a trader has not maintained a complete set of accounting records. Which is similar to a statement of af...
A limited company provided the following information. non-current (fixed) assets | 35 000 ordinary share capital | 40 000 5% debentures | 10 000 ne...