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.
How are closing inventory and loss for the year treated?
How should interest charged on a partner's drawings account be treated?
Kay and Lay share profits and losses in the ratio of 3:1. Capital account balances are Kay $100000 and Lay $84000. There was no goodwill account in...
A cricket club provides the following information. $ subscriptions owing at 1 January 2014 340 subscriptions paid in advance at 1 Januar...
DEC Limited has produced the following information for the current financial year. department X department Y $ $ revenue ...
A business bought and sold the following items of inventory. month details units cost per unit $ January p...
The profits of Bronte Limited are as follows. year ended 31 December 2013 nil year ended 31 December 2014 $60000 Bronte Limited has in issue ...
A limited company issues 5000 ordinary shares of $2 each at a premium of $0.50. What is the effect on share capital and liquidity?
A new business was established with opening capital of $20000. At the end of the first year, assets less liabilities were $26000. The owner withdr...
A company's gross profit ratio (margin) for the year ended 31 December 2013 was 25% but increases to 28% for the year ended 31 December 2014. What...
Which ratio will give the best indication of short term liquidity?
An investor is looking at the financial statements of a company in which he may decide to invest. Which item helps him to rely on the financial st...
The diagram shows a break-even chart. What is indicated by the line XY?
The following figures are given for a factory's overheads and machine hours worked. machine hours total overhead costs overhead ...
Which costing method is used to calculate a break-even point?
Which is not a characteristic of job costing?
A business plans to replace its computer systems. Its existing hardware was bought seven years ago and its software five years ago. What type of c...
A business manufactures three products which all use the same material. The following information is available. X Y Z $000 $000 ...
A company is forecasting its profits at two levels of activity. sales units sales units 5000 8000 $ $ total fixed and variabl...
Which statement about a cash budget is correct?
What might stop financial statements showing a true and fair view?
A company's financial year ends on 31 December. On 1 April 2015, the following payments relating to a new machine were made. purchase cost $50000 i...
A business purchased a motor vehicle on 1 January 2012 for $24000. The estimated useful life of the motor vehicle was four years and the estimated ...
A building was purchased for $500000. The following costs were also incurred. $ adapting the new building 50000 legal fees for the building purchas...
Which statement about the sales ledger control account is correct?
In which book of prime entry is the contra between the sales ledger control account and the purchase ledger control account recorded?
A business omitted discounts allowed of $700 from its trial balance. During the year a machine had been sold for cash of $500 but the only accounti...
In an income statement carriage outwards of $5000 has been treated as carriage inwards. Carriage inwards of $3000 has been treated as carriage outw...
A company received interest of $8800 during the financial year. Interest of $700 was due at the beginning of the year and $850 at the end of the ye...
Katrina commenced business on 1 January 2015. For the year ended 31 December 2015, the following information is available. drawings $53500 profit f...
The following information is available for rent and rates. $ prepaid rent at the start of the year 1250 accrued rates at the start of the year 1380...
The directors of a company are completing the financial statements for the year ended 30 April 2016. They discover that the inventory at 1 May 2015...
X and Y were in partnership sharing profit and losses equally. They then admitted Z into the partnership and profits and losses were still shared e...
A and B were in partnership sharing profits and losses equally when they decided to retire. Details of the realisation are shown in the table. book...
A company's profit from operations has increased by 10% in a year, whilst its gross profit has only increased by 5%. Which factors could explain th...
A company has 1000000 ordinary shares of $1 issued at $2.50. It also has a 5% debenture of $300000. Profit from operations for the year was $465000...
A company issues 100000 new $1 ordinary shares at a premium of $0.20 each. Which effect does this have on the statement of financial position?
The trial balance on 31 December 2015 showed the following information. ordinary share capital ($1 shares) $500000 retained earnings $300000 On 1 J...
A company wants to increase its return on capital employed in the short term. Which course of action will achieve this?
Which item is included in the current ratio but not the liquid (acid test) ratio?
A business has prepared the following information for the year ended 30 April 2015. revenue $220000 opening inventory $25000 purchases $120000 clos...
An employee works a standard 40-hour week. In that time he is expected to make 200 complete units. He is paid a bonus of $10 for every hour saved i...
A business was started on 1 January. The purchases and sales of inventory for January were as follows. date purchases sales 4 January 3 at $200 eac...
A manager is preparing a quotation for Job 88. A specialised technician is hired to work for this job only. He will use machinery that the company ...
Budgeted overhead expenditure was $180000 and budgeted labour hours were 12000. Actual overheads amounted to $196000 and actual labour hours were 1...
Why might a business use marginal costing? 1 to calculate break-even units 2 to decide on the most profitable use of limited resources 3 to decide ...
A business provided the following information for the past two months. month number of labour hours total overheads $ February 64000 918000 March 7...
A company uses marginal costing. Which costs are included in its inventory valuation?
The break-even sales of a company are 1000 units when the variable costs are $30000 and fixed costs are $20000. What is the profit if 70 units abov...
Who should be on the budget committee?