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.
A company has ordinary share capital of $250000. The ordinary shares have a nominal value of $0.25 each. A rights issue is made on the basis of 2 s...
A shareholder sells some shares for less than he paid for them. What happens to the share capital of the company?
Which item would result in a decrease in the expenses to revenue ratio?
A company provided the following information. $ profit from operations 109000 interest paid 12000 share capital 250000 total reserves 129000 5% deb...
A business provided the following information. budgeted overheads $127000 budgeted machine hours 10450 actual overheads $149000 actual machine hour...
Which costs are stepped costs? 1 Increase in indirect materials cost. 2 Increase in variable overheads. 3 Renting further factory space.
An employee worked a normal 35-hour week and was paid $15 per hour. He also worked 5 hours of overtime which was paid at $20 per hour and received ...
A company uses machine hours to absorb its overheads. The following information is provided for a month. actual budgeted overheads $237010 $253450 ...
Which line represents total variable cost? [Figure showing a graph with lines A, B, C, D]
The following information is available in respect of a product. per unit $ selling price 25 variable costs 15 contribution 10 Production is 50 000 ...
A company makes a single product and sells it for $12 per batch. The variable cost is $4 per batch. Fixed costs have been absorbed based on a norma...
The following information relates to one unit of a product. per unit $ selling price 20 marginal cost 8 fixed costs 5 What is its contribution to s...
The budgeted information for one month is shown. units sales 20000 selling price per unit $12 variable cost per unit $3 fixed costs $50000 It is ex...
What are the disadvantages of budgetary control systems? 1 Budget holders can be blamed for uncontrollable adverse outcomes. 2 Only financial outco...
A trader sells goods for $6600 to a customer on 31 March 2019, the last day of his financial year. He does not produce an invoice until three days ...
The following costs for a business relate to a newly purchased machine. 1 alterations to the factory building to install the machine 2 payment of i...
The following information is available. freehold premises at cost 125000 provision for depreciation of freehold premises 50000 The premises were re...
A business has a year end of 31 December. It purchased a motor vehicle on 1 January 2017 for $15000. The motor vehicle was sold on 31 March 2019 fo...
A trial balance does not balance and a suspense account is opened. Later the following errors are found and the suspense account is cleared. 1 A sa...
A sales ledger control account included the following entries. 1 contra with the purchases ledger control account $500, debit 2 discount allowed $6...
A company's bank statement showed a credit balance of $2000. The following errors were found. 1 A receipt of $2700 and a payment for $3000 were rec...
A business makes a provision for doubtful debts equal to 10% of trade receivables. The provision at 31 March 2018 was $8300. The trade receivables ...
A trader sent goods to a customer on a sale or return basis. At the trader's year end he had not heard if the customer had accepted the goods. Wher...
On 1 May 2018 Trevor had a debit balance of $3000 on his rent receivable account. Rent received during the year was as follows. 28 May 2018 18000 3...
A sole trader makes a profit for the year of $31000, after taking the following items into account. carriage inwards 2600 decrease in provision for...
X and Y are in partnership sharing profit and losses equally. Y's opening current account balance was $1350 debit. The residual profit for the year...
F and P are in business sharing profits and losses in the ratio 3:1. Their capital account balances are: F 90 000 P 60000 B is introduced as a new ...
L and M are in partnership, sharing profits and losses in proportion to their capital invested. The following information is available: capital: L ...
Which item is shown in the statement of changes in equity?
Which statement about bonus shares is correct?
The equity of P Limited at 1 January 2019 was $668000. Profit for the year ended 31 December 2019 was $120000. During the year ended 31 December 20...
A business applied a mark-up of 25%. Which statement is correct?
A company's results for a year showed credit sales of $500000. The trade receivables collection period was 73 days. In the next year, credit sales ...
A business has the following current assets and current liabilities. trade receivables 6000 bank overdraft 1500 cash in hand 50 trade payables 5050...
A mechanic carries out regular factory machine maintenance. He is paid an annual salary of $20000. Which type of cost is this?
A manufacturer uses the weighted average cost (AVCO) method of inventory valuation. Opening inventory was 10 units at $50 each. During the month: 3...
Which statement is correct when production increases?
Why might absorption costing be used? 1 to calculate contribution 2 to decide whether or not to accept a special order 3 to make long-term decision...
The following information is available for a business. fixed overheads budget $180000, actual $190000 hours budget 10000, actual 11000 What was the...
A business plans to sell all the 10000 units produced next year at the same price as this year. Direct costs are forecast to decrease by $2 per uni...
The following information is available for a business. sales revenue $600000 variable cost $180000 break even sales revenue $400000 What is the pro...
Which statements about cost-volume-profit analysis are correct? 1 It assumes costs and revenues behave in a linear fashion. 2 It assumes that only ...
A company is forecasting its profits at two levels of activity. sales units: 5000 units, 8000 units total fixed and variable costs: $20000, $26000 ...
Why would a business prepare budgets? 1 to communicate its plans 2 to enable it to control costs 3 to improve its products' quality 4 to plan its o...
A business values its inventory at the lower of cost and net realisable value. Which accounting concept is being applied?
On 1 May, Tom sold an old motor vehicle with a net book value of $10000 to Arnold for $12000. Arnold paid $7500 by cheque and agreed to pay the bal...
Which item is not included as part of the capital cost of a new machine?
Why does a business charge depreciation on its non-current assets?
The net book value of motor vehicles of a company is shown. beginning of the year end of the year $312000 $305000 During the year, an old vehicle...
The bank statement of a business showed a credit balance of $4520. This did not agree with the cash book. The following were discovered. 1 Bank ch...