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 business provides the following information for a month. actual direct labour hours worked 8000 actual overhead expenditure $88 000 budgeted dire...
The following information is provided by a company for a month. actual direct labour hours worked 4500 budgeted direct labour hours 5000 budgeted o...
What do the break-even charts show regarding the profitability of and risk attaching to products 1 and 2? [Break-even chart for product 1] [Break-e...
Which graph shows the fixed cost per unit produced in a manufacturing process?
A company's sales are made evenly over a year (360 days). 10% of the sales are for cash, debtors total $26 700 and the trade receivables turnover p...
A business sells goods at a mark up of 33.3%. Information for a year is given. $ revenue 600 000 opening inventory 53 000 closing inventory 68 000 ...
The table shows opening and closing balances for the rent receivable account. start of year $ rent received in advance 4200 rent due in arrears 2...
A non-current asset costing $206 000, with a net book value of $131 000, is revalued to $275 000. How should the revaluation be recorded?
A business buys a machine on hire purchase for $50 000. Although it will not own the machine until it has paid the final instalment, it has made th...
A sole trader owns a vehicle valued at $4000 for his own use and a vehicle valued at $2500 for business use. On 1 April 2012 he sold the business v...
Which accounting principle means that a company's financial statements are comparable from one period to the next?
The table shows details relating to a company's banking transactions at 31 December. $ balance at bank as per bank statement 22 650 uncleared lodg...
A company's accounts showed a gross profit for the year of $32 500. After the draft financial statements were prepared it was found that the openin...
A manufacturing company has the following information for the year ended 31 December. $ purchase of raw materials 58 000 wages of machine operator...
The table shows information about four partners in a partnership. Which partner has the greatest net reward from interest on capital and interest o...
X and Y are in partnership sharing the profits equally. No goodwill account is maintained in the accounts. Z joins the partnership and pays $30 000...
Which statements about non-profit making organisations are correct? 1 A club or society may engage in trading activities. 2 A club or society may s...
A business sells goods at cost plus 25%. Information for a year is shown. $ revenue 240 000 opening inventory 42 000 closing inventory 48 000 Wha...
The inventory records of a business show the following information for product X. units cost per unit $ 1 January opening balance 100 3 3 Janua...
A company has an issued share capital of 200 000 6% cumulative preference shares of $1 each fully paid and 800 000 ordinary shares of $1 each fully...
A company raises finance by issuing debentures. What is the effect on net current assets and short term profits? net current assets profits decr...
A business finds that it is unable to pay its trade payables because of a poor cash flow. What should it do to improve its cash flow?
For some years a business has given 2% cash discount to its customers and lost 3% of its inventory to pilferage by staff. On 1 January, the busines...
The table gives information about a company. year 1 $ year 2 $ revenue 150 000 200 000 cost of sales 105 000 130 000 45 000 70 000 administration ...
A business turns over its inventory 5 times a year. Average inventory is $54 000 and sales are made at a mark-up of one-third. How much are the sales?
What is not included in the calculation of the liquid ratio (acid test)?
The owner of a business has to decide whether to sell a particular type of product. Which ratio is the most useful in making the decision?
Which statement best describes a sunk cost?
A business has the following costs. raw materials $3 per unit direct labour $2 per unit stepped costs of $5000 for every 10 000 units What is the c...
Which statement best describes fixed costs?
Which costs are classified as manufacturing overheads for a car assembly plant? 1 assembly line employees' wages 2 cost of components assembled 3 d...
A business has the following budget for April. $ sales revenue 1 000 000 contribution 550 000 fixed production costs 275 000 fixed selling costs 5...
Which costing method is best suited to valuing inventory and which for deciding whether to accept an order below normal selling price? valuation o...
The following information is forecast for May. units opening inventory 25 200 closing inventory 28 200 $ marginal cost profit 100 800 absorption ...
What is the purpose of a job cost sheet?
In the books of account of Y, how could a credit entry of $500 in X's account have arisen?
A business paid $5750 during its trading year for advertising. Part of this amount included $500 in respect of the next financial year. Which effec...
A rents its building to B. At 31 December 2011, B owed $4500 for rent. At 31 December 2012, B had paid $3200 in advance. During the year A had rece...
The draft financial statements of a business show a profit for the year of $64 000 before taking account of the following. 1 the reduction of the p...
What does the application of the accounting principle of consistency ensure?
A trader recently purchased a non-current asset for his business at a cost of $6500. A friend told him he could buy a similar asset on-line for $50...
At the financial year end of a business the following information is available. [Table: debit balance on the bank statement 1000, unpresented chequ...
Which error would result in the creation of a suspense account?
Who is most likely to use an age analysis of debtors?
An error of reversal is made when recording the payment of a telephone bill for $500. Which journal entries are required to record the correction o...
What is included in the cost of production?
The summarised statements of financial position for a business for two years are as follows. [Table: year 1, year 2 for non-current assets, current...
The wages of staff employed in manufacturing goods have been debited in the income statement. What is the effect of this error?
During the year ended 31 December 2012 a business made a profit of $31000. A dividend of 8% was paid on the 200000 ordinary shares of $0.50 each, a...
X and Y have been in partnership for some years sharing profits in the ratio of 3:2. Z joins the partnership and introduces cash of $40000. The pro...