Cambridge Past Paper Questions
Browse 23,045questions from 25 years of O-Level & A-Level exams. Click any question to practice.
What is a purpose of preparing a sales ledger control account?
Rashid provided the following information at 31 December. $ machinery at cost 52 000 provision for depreciation of machinery 23 000 Depreciation ...
A machine which cost $32000 was sold for $14000. The total depreciation at the date of disposal was $15000. What was the profit or loss on disposal?
Beena maintains a provision for doubtful debts of 3% of the trade receivables at the end of each financial year. On 1 September 2019 the provision ...
What is not a service business?
The financial year of Peter ends on 30 September. On 1 August 2020 Peter received rent $1000. This covered the period from 1 July to 30 November 20...
In addition to a share of the profit a partner receives interest on capital, a salary and is charged interest on drawings. How are these recorded i...
A sports club provided the following information. $ subscriptions for the year 26 800 profit on sale of refreshments 4 200 depreciation 1500 rent ...
A club was formed on 1 July 2019. During the year ended 30 June 2020 subscriptions received from members totalled $2500. This included $120 paid in...
Anthony does not keep a full set of accounting records. He knows his opening and closing cash balances and wishes to calculate his cash sales. Whic...
A trader has not maintained a full set of accounting records. How can she calculate the credit sales for the year?
A trader made the following forecasts for the business for the next financial year. average inventory $80 000 rate of inventory turnover 6 times m...
A trader wants to improve his gross margin. How can this be done?
Meesha provided the following information for her first year of trading. $ sales (1000 units at $10 each) 10000 cost of sales (1000 units at $4.50...
AB Limited and CD Limited both started business on 1 January 2019 with an ordinary share capital of $100000. Neither company had any debentures or ...
Which interested party uses the financial statements of a business to assess current performance and plan for future activities?
The special skills of the employees are not recorded in the financial statements of a business. Which accounting principle is being applied?
How can a business comply with the accounting principle of prudence? assets | losses --- | --- avoid overstating | avoid overstating avoid oversta...
What is not an aim of international accounting standards?
The following account appeared in the books of Mary. Paul account $ $ April 1 balance b/d 90 14 sales 150 April 21 returns 25 30 bank 88 discount ...
Which business document is used to update the cash book for standing order payments?
On 1 March 2020 the bank column of a cash book had a credit balance of $290. During March cheques totalling $580 were received and cheques totallin...
Ziningi prepared a trial balance. The total of the debit column was $225750 and the total of the credit column was $225250. What could explain the ...
Rent received from a tenant was debited to the rent receivable account and credited to the cash book. Which type of error has been made?
A computer system purchased from Ace Computers for $1430 had been incorrectly recorded as $1340 and was entered in the stationery account instead o...
A trader uses the reducing balance method of depreciation. What effect will this have over the life of the non-current asset?
Rashid provided the following information at 31 December. $ machinery at cost 52000 provision for depreciation of machinery 23000 Depreciation for ...
At the end of his financial year on 31 August 2020 a trader had prepaid insurance. How will this appear in the insurance account and the statement ...
Hayley's financial year ends on 30 September 2020. She provided the following information. $ on 1 October 2019 rent receivable accrued 480 during t...
The balances in the books of Jason on 1 July 2019 included the following. $ trade receivables 64200 provision for doubtful debts 1284 Trade receiva...
Which items will not be shown in an income statement prepared for a service business? 1 cost of sales 2 gross profit 3 profit for the year 4 wages ...
A trader provided the following information. $ capital at 1 October 2019 52000 motor vehicle given to the business by the trader 3500 personal expe...
John and Mark are in partnership. Profits and losses are shared in the ratio 3:2. John is entitled to an annual salary of $12000. The profit for th...
A partnership maintains both current and capital accounts for each partner. An inexperienced book-keeper prepared the following account which conta...
Z Limited provided the following information. $ 5% debentures 50 000 general reserve 25 000 issued ordinary share capital 300 000 retained earnings...
Which statement about preference shares is not correct?
A sports club was formed on 1 September 2019. What may appear in the receipts and payments account for the year ended 31 August 2020?
A manufacturing company provided the following information. $ cost of raw materials 186 000 direct wages 75000 machinery depreciation 45000 factory...
A trader made the following forecasts for the business for the next financial year. average inventory $80 000 rate of inventory turnover 6 times ma...
Kim's trade payables turnover increased. What could have caused this?
A company provided the following information about its rate of inventory turnover. year 1 24 times year 2 25 times year 3 27 times What would expla...
A company provided the following information about its current ratio. year 1 2.3:1 year 2 2.4:1 year 3 2.5:1 What would explain the changes in the ...
Zak has depreciated his machinery at the rate of 20% per annum using the straight-line method. At 31 December 2018 the statement of financial posit...
The financial statements of a business are prepared on the basis that it will continue to operate for many years into the future. Which accounting ...
When Marina opened a business she purchased a stapler for the office. She recorded this as office expenses rather than as office equipment. Which a...
Dev owns a business selling furniture. The following transactions took place during August 2020. Transaction | Date | Details | $ --- | --- | ---...
BH Sports Club provides sporting facilities and a café for the use of its members and guests. The club's financial year ends on 31 July. The follow...
JP Limited's financial year ended on 30 September 2020. The following balances were available at that date. | $ --- | --- 7% debentures (2026) |...
Carlos owns a business selling computer equipment. He provided the following information for the year ended 31 July 2020. | $ --- | --- Sales | 2...
Razia's financial year ends on 30 September. The totals of the trial balance on 30 September 2020 did not agree. The totals were debit $10450 and ...