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 partnership maintains capital accounts and current accounts. Which statements are correct? 1 The capital accounts show the total amount owed to e...
X, Y and Z had been in partnership, sharing profits and losses in the ratio of 2:2:1. On 1 January 2017, Y retired. The balances of his capital and...
S and T are in partnership, sharing profits and losses in the ratio 2:1. The balances on their capital accounts at 31 March 2017 were: [Table: capi...
A partnership provides the following financial information for the year ended 30 June 2017. [Table: profit from operations $240000, bank interest p...
Which accounting entry could record the issue of bonus shares? [Table: debit, credit, A bank, share capital, B general reserve, share capital, C ge...
From which accounts can a company pay dividends? 1 general reserve 2 retained earnings 3 revaluation reserve 4 share capital
A company provides the following data on 1 January 2016. [Table: 10% debentures (2020) $200000, bank loan (2017) $130000, bank loan (2018) $10000, ...
Calculation of which ratio does not include revenue?
Bradshaw does not keep proper books of account. The following information is available for the year. [Table: cost of sales $750000, mark-up 20%, ca...
The financial statements of a company showed the following. [Table: current liabilities $15000, non-current liabilities $40000, ordinary shares $12...
Which item is an indirect cost?
The following information is forecast for next period. [Table: units, opening inventory 54275, closing inventory 60120, $, profit using marginal co...
A business has total fixed costs of $240000. Products have a unit selling price of $25 and a unit variable cost of $15. How many units need to be s...
The table contains information provided by a company. [Table: budgeted direct labour hours 8000, actual direct labour hours worked 7500, budgeted o...
The diagram illustrates the cost behaviour of a typical telephone invoice. [Figure: A graph with 'total cost $' on the y-axis and 'level of activit...
Which statements about the limitations of marginal costing are correct? 1 Finance costs are not included in the manufacturing overheads. 2 Variable...
A product has a variable cost of $31.32 per unit. Total fixed costs are $93600. When production is 13000 units the margin of safety is 5000 units. ...
Why is planning important to a business? 1 to ensure that the business always makes a profit 2 to employ the correct number of workers 3 to reduce ...
A company does not include in the financial statements the value of skills gained by its employees from training programmes. Which accounting conce...
Which non-current asset is most likely to be depreciated using the revaluation method?
A trader purchased a motor vehicle costing $36000 on 1 July 2016. The estimated useful life of the motor vehicle was five years and the estimated r...
The following is an extract from the statement of financial position for a company at 31 December 2016. non-current assets cost $250 000, accumulat...
A business sells a non-current asset for cash. The disposal account includes entries for the cost of the asset and the sales proceeds. Which books ...
A trader has extracted the following information from his books of account at 31 March 2018. purchase ledger balances at 1 March 2018 $32 100 credi...
The table shows extracts from a business's bank reconciliation. balance per cash book at 31 December $2075 debit balance per bank statement at 31 D...
Bank interest income, $1800, had been correctly entered in the bank account but recorded as interest expense. Which entries in the ledger will corr...
A company has the following balances. trade receivables at 31 December 2017 $125400 provision for doubtful debts at 1 January 2017 $1800 During the...
How are purchases calculated when proper accounting records have not been kept?
The draft financial statements for a business included an inventory valued at $550000. This valuation included damaged items which originally cost ...
A trader took out a 6% bank loan of $30000 on 1 November 2017, to be repaid in full in 10 years' time. Interest is to be paid annually. No interest...
Which items would not be in the appropriation account for a partnership? 1 interest on capital 2 interest on a partner's loan 3 share of profit on ...
X and Y had been in partnership sharing profit and losses in the ratio of 1:2 respectively. Z was later admitted to the partnership. It was agreed ...
J and K shared profits equally. Their capital account balances were J $400000 and K $160000. L was admitted as a partner. The three partners then s...
The statement of financial position of a business on 31 December 2017 showed the following. retained earnings $136 000 general reserves $28 000 sha...
A company provides the following information. ordinary shares of $0.50 each $84 000 retained earnings $50 000 134 000 The following transactions th...
The financial data relates to two businesses. trade receivable turnover (days) X: 90 Y: 40 trade payable turnover (days) X: 50 Y: 70 liquid (acid t...
A company's financial statements show the following. profit before interest $125378 profit for the year $120426 200 000 ordinary shares $1 each $20...
A company's income statement shows the following. revenue $460 000 cost of sales $120000 administration expenses $54000 distribution costs $47000 f...
To make a single unit of output a business requires material costing $1000. When 20 items are produced, the total cost of the material is $20000. W...
A business has the following total overheads for two different output levels. total overheads $200 000, output (units) 20000 total overheads $21600...
A retailer uses the FIFO method for inventory valuation. The following information is available. June 1 opening inventory 300 units at $12 per unit...
A business manufactures 175 units of a product each month. The following information is available for the month. Per unit revenue $580 Per unit var...
When is marginal costing less useful than absorption costing?
A company manufactures a single product with a selling price of $75 per unit. The table shows the costs based on sales and production volume of 800...
A company has the following revenue information for a month. actual revenue $510000 break-even revenue $555000 budgeted revenue $570000 What was it...
A business provides the following information. budgeted overhead costs $280 000 budgeted labour hours 25 000 budgeted machine hours 20 000 actual o...
A business provides the following budgeted information. contribution to sales ratio 60% budgeted sales $240 000 budgeted production units 40000 Wha...
Which statement identifies an advantage to a business of financial planning?
Which concept requires that profits should be based on recognising revenues and their related expenses for an accounting period?
A business buys a non-current asset and decides to apply the straight-line method of depreciation. The accountant forgets to include an estimate of...