Cambridge Past Paper Questions
Browse 23,045questions from 25 years of O-Level & A-Level exams. Click any question to practice.
A partnership earned an average profit during the year of $15000 per month. Halfway through the year D and E were joined by a new partner F and pro...
How would a transfer to general reserve and the issue of shares at a premium affect the revenue reserves of a limited company? transfer to issue of...
A company is formed with the issue of 100000 6% non-cumulative preference shares of $1 each and 300000 ordinary shares of $1 each issued at a premi...
Which action will increase the equity of a limited company?
Which action leaves the value of working capital unchanged?
Owusu Limited has a constant level of annual sales and a constant gross margin. Each year the inventory increases. Which effects does this have on ...
A business uses the AVCO method of inventory valuation. The following transactions took place. 1 March purchased 1000 units at $65 per unit 2 March...
A manufacturing company employs 20 workers who are paid a basic rate of $30 per hour for a 40-hour week. To meet a special order, the workers each ...
A manufacturing business is currently operating at full capacity. As part of an expansion programme to increase production capacity, the business i...
In a manufacturing business the following could occur. 1 Actual overheads paid are less than budgeted overheads. 2 Actual overheads paid are more t...
A company makes and sells a single product for $12 per batch. The variable cost is $4 per batch. Fixed costs have been absorbed based on a normal a...
The following information was provided about a product. selling price per unit $50 variable cost per unit $26 total fixed costs $10000 demand 1800 ...
A business that uses flexible budgets shows the following: units of output 100 000 110000 total fixed and variable costs $400000 $425000 What are f...
A company makes a product for which the following information is given. per unit $ selling price 100 direct materials 40 direct labour 30 Total fix...
What is the objective of a system of budgetary planning and control?
Which item is classed as revenue expenditure?
What is the purpose of depreciation?
A company's year end is 30 April. It purchases a factory in May 2014 at a cost of $200000. The factory will be depreciated over 20 years. A full ye...
A business has a year end of 31 December. It purchased a non-current asset on 1 January 2014 for $100000. It was depreciated using the reducing bal...
Why does a business keep a sales ledger control account? 1 It helps deter fraud. 2 It helps with the preparation of financial statements. 3 It iden...
A sales ledger control account had a debit balance of $38600. The total of individual sales ledger debit balances was $36500. The only errors found...
The following information is available. [Table: provision for doubtful debts at the beginning of the year $6250, trade receivables at the end of th...
At 31 December the following information is available about a company's banking transactions. [Table: balance at bank per bank statement $22650, un...
Hedley has 100 items of inventory in his warehouse and five more with a customer on a sale or return basis. He provides the following information. ...
A business does not keep complete accounting records. The following information is known for the year. [Table: capital at start $52000, capital at ...
A business has 500 items of inventory at a cost price of $3 each. The selling price per unit is based on a mark-up of 20%. Before sale, the items n...
The following information is available for the year ended 31 December 2016. [Table: revenue $75000, purchases $32000, carriage inwards $5400, carri...
A partnership maintains capital accounts and current accounts. Which statements are correct? 1 The capital accounts show the total amount owed to e...
X, Y and Z had been in partnership, sharing profits and losses in the ratio of 2:2:1. On 1 January 2017, Y retired. The balances of his capital and...
S and T are in partnership, sharing profits and losses in the ratio 2:1. The balances on their capital accounts at 31 March 2017 were: [Table: capi...
A partnership provides the following financial information for the year ended 30 June 2017. [Table: profit from operations $240000, bank interest p...
Which accounting entry could record the issue of bonus shares? [Table: debit, credit, A bank, share capital, B general reserve, share capital, C ge...
From which accounts can a company pay dividends? 1 general reserve 2 retained earnings 3 revaluation reserve 4 share capital
A company provides the following data on 1 January 2016. [Table: 10% debentures (2020) $200000, bank loan (2017) $130000, bank loan (2018) $10000, ...
Calculation of which ratio does not include revenue?
Bradshaw does not keep proper books of account. The following information is available for the year. [Table: cost of sales $750000, mark-up 20%, ca...
The financial statements of a company showed the following. [Table: current liabilities $15000, non-current liabilities $40000, ordinary shares $12...
Which item is an indirect cost?
The following information is forecast for next period. [Table: units, opening inventory 54275, closing inventory 60120, $, profit using marginal co...
A business has total fixed costs of $240000. Products have a unit selling price of $25 and a unit variable cost of $15. How many units need to be s...
The table contains information provided by a company. [Table: budgeted direct labour hours 8000, actual direct labour hours worked 7500, budgeted o...
The diagram illustrates the cost behaviour of a typical telephone invoice. [Figure: A graph with 'total cost $' on the y-axis and 'level of activit...
Which statements about the limitations of marginal costing are correct? 1 Finance costs are not included in the manufacturing overheads. 2 Variable...
A product has a variable cost of $31.32 per unit. Total fixed costs are $93600. When production is 13000 units the margin of safety is 5000 units. ...
Why is planning important to a business? 1 to ensure that the business always makes a profit 2 to employ the correct number of workers 3 to reduce ...
A company does not include in the financial statements the value of skills gained by its employees from training programmes. Which accounting conce...
Which non-current asset is most likely to be depreciated using the revaluation method?
A trader purchased a motor vehicle costing $36000 on 1 July 2016. The estimated useful life of the motor vehicle was five years and the estimated r...
The following is an extract from the statement of financial position for a company at 31 December 2016. non-current assets cost $250 000, accumulat...
A business sells a non-current asset for cash. The disposal account includes entries for the cost of the asset and the sales proceeds. Which books ...