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.
M Limited has made sure that its financial statements are comparable with those of previous years. How does this affect interested parties?
Which accounting principle states that profit should be recognised when title to the goods passes to the customer?
Kalima is a trader. At the start of September 2024, Kalima had a cash balance of $240, a bank balance of $890 credit and a credit customer, Elizah,...
Ben runs a small business but does not maintain a full set of accounting records. He has provided the following information: 31 March 2024 $ 1 Apri...
Sports T is a club providing sporting facilities to its members. The club hires all sporting equipment. The club also runs a small café selling foo...
Y Limited is a public limited company. Y Limited's financial year ends on 31 December each year. On 1 January 2023, the company had: 800000 ordina...
Azim is a wholesaler. He sells goods on both cash and credit basis. Terms of business for all credit sales is 30 days. Azim has provided the follow...
What are liabilities?
Sally maintains a full set of accounting records. She has entered the following transactions in her cash book. 1 A cheque for $200 was received fro...
An account in the purchases ledger of X Limited has a debit balance. What does this balance represent?
The following account appeared in the books of Mary. [Figure 5.1 - Paul account table] Which statement is correct?
A supplier has received a debit note from a customer. What does the supplier use this debit note for?
A trader prepared their trial balance which showed the debit column total of $45000 and the credit column total of $40000. The following errors wer...
Ahmed's trial balance totals did not agree. He entered the difference in a suspense account. The following errors were later discovered. 1 A paymen...
Susanne is a trader. She received a cheque from Zahir, a credit customer, for $300. This cheque was incorrectly debited to Zahir's account and cred...
A trial balance does not agree, and a suspense account is opened. Which statement is not correct?
After receiving her bank statement, Lyn updated her cash book. Which items would reduce the overdrawn balance in the cash book? 1 bank interest rec...
Natalie is both a customer of and a supplier to Gustav. On 28 June, Gustav's account in Natalie's purchases ledger had a credit balance of $295, an...
Johnny prepared his sales ledger control account. The figures in it came from several different sources. Which statements are correct? 1 The source...
At the beginning of the year on 1 January, Zac paid $420 for an equipment repair. He entered this amount in the equipment account. At the end of th...
Why does a business need to provide for depreciation in its accounting records?
An asset originally costing $20000 had been depreciated by $15000 when it was sold for $3000. Which entry will be shown in the disposal account to ...
Why should prepaid income be shown in the financial statements of a business?
What is the effect on total assets and on equity in the statement of financial position if the value of closing inventory is overstated? [Figure 19...
Who works in a service business? 1 a hairdresser 2 an estate agent 3 a car mechanic 4 a car salesperson
At the beginning of the year on 1 January, Keith was owed $1500 commission by clients. During the year, Keith received $18000 commission. At the en...
Jack and Gill are setting up in business as partners and are considering writing up a partnership agreement. What is not included in any partnershi...
Raj and Rohit are in partnership sharing profits and losses in the ratio of 2: 1. Raj is entitled to an annual salary of $3000. The profit for the ...
BCD Limited provided the following information. [Figure 24.1 - Table of financial information for BCD Limited] How much was the equity and the capi...
Which statement correctly describes called-up share capital?
A sports club was established on 1 January. It has a clubhouse and also runs a snack bar for its members. Which items would be included in the rece...
A sports club started running a café, selling hot and cold drinks and confectionery, on 1 January 2024. The following information is given for the ...
A manufacturing business provided the following information. [Figure 28.1 - Table of manufacturing cost information] What was the factory cost of p...
Gem has been in business for many years. On 1 March, Gem purchased a new factory. On that date, he paid three months' insurance on his factory, tot...
Munira has not maintained a full set of accounting records. How would she calculate her credit purchases figure for a month?
The assets of a business increased by $22 000 and its liabilities decreased by $6000 over a one-year period. During this period, the owner invested...
Jonny provided the following information. [Figure 32.1 - Table of financial information for Jonny] What was Jonny's current ratio?
Jose runs a business providing accounting and book-keeping services. What is not relevant in analysing his business financial statements?
Jamila's business sells one type of product only. She provided the following information. [Figure 34.1 - Table of Jamila's business information for...
Antionette decides to treat a calculator bought for her large business as an expense instead of as a non-current asset even though it will be used ...
On 31 March 2025, Zac's bank statement showed an overdrawn balance of $1665, but the bank column of his cash book showed a debit balance of $825 on...
Jaya is a trader. Her financial year ends on 31 July. The totals of her trial balance at 31 July 2025 did not agree. REQUIRED Jaya later discove...
Ahmed has a vehicle breakdown recovery business. He owns a recovery vehicle and has provided the following information about the vehicle: • Purchas...
AY Limited has provided the following performance data for the last two years of trading. Ratio Year 1 Year 2 ...
GH Company manufactures car parts and has provided the following information relating to the year ended 31 March 2025. Revenue ...
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...