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.
In a job costing system, what is the correct entry to record the return of unused direct materials from production to stores? [Table showing debit...
A company manufactures two products. [Table showing selling price, direct labour (per unit), direct materials (per unit) for product X and product...
A factory produces a product with a variable cost of $0.60 per unit. Fixed costs are $15 000 per quarter, including rent of $6000 per quarter. If m...
A manufacturer has 700 units of finished goods in stock on 1 March. On 31 March the total number of units in stock is 770. At present, stock is val...
A job cost sheet showed the following estimates. [Table showing materials $680, labour at $20 per hour $200, overheads at $10 per labour hour $100...
The diagram shows a break-even chart. [Diagram: A break-even chart with '$' on the Y-axis, 'number of units' on the X-axis, and lines X and Y inte...
The table gives data about rental income for the year ended 31 March 2011. $ rents owing 31 March 2010 1 400 rents received in advance 31 March 20...
Expenditure on a machine during a year has included the following. $ insurance costs 2 400 new engine – machine will now produce more products per...
What should companies not show as non-current assets in their balance sheets?
Which accounting policies illustrate the matching principle? 1 charging depreciation on non-current assets 2 revaluing non-current assets on a irr...
The table shows information for a business at 31 March in Year 1. inventory $ 16 100 trade payables 5 200 other payables 2 000 The information ex...
A company values its loose tools for inclusion in its balance sheet. The tools are not very valuable and the company uses estimating when valuing ...
A business provides the following information. cash received from customers $ 200 000 opening trade receivables 40 000 closing trade receivables 3...
A manufacturing company incurred the following costs. manufacturing labour $ 350 000 raw materials purchased 230 000 opening inventory of raw mate...
A company has two departments X and Y. Management provides the following information. department X department Y total power used 7 500 kwh 17 500 ...
If partners do not draw up a partnership agreement, the provisions of the Partnership Act apply. Which statement is true as a provision of the Par...
X and Y have been business partners for several years, sharing profits in the ratio of 2:1. Y now wishes to retire and leave X to continue with a n...
Subscriptions received by a sports club were as follows. received year ended 31 December 2008 $ 2009 $ 2010 $ for membership in the year ended 31 ...
The treasurer has provided the following information relating to a golf club's financial position at the year end. cash at bank $ 2 500 non-curren...
A trader buys and sells garden fertiliser in 50 kilo units. Inventory at 1 July was 250 units valued at 16 per unit. Purchases and sales during the...
Why is a provision for depreciation made in the financial statements?
When is working capital most likely to increase?
What occurs in a rights issue of shares?
A business has a rate of inventory turnover of 17 times a year. What is the numerator in the calculation?
The following items appear on a balance sheet. inventory $ 20 000 balance at bank 2 000 cash in hand 1 500 trade payables 11 000 provision for dou...
Which ratio measures a business' average payment period?
A firm has calculated the following accounting ratios for the year ended 30 June: year ended 30 June 2010 30 June 2011 gross profit on sales 30% 3...
What is a limitation of the use of accounting information that is totally outside the entity's control?
Which line represents total variable cost? [Graph showing output vs $ with four lines A, B, C, D]
A company makes and sells one product that has a variable cost of $21 and a contribution to sales ratio of 30%. Total fixed costs per month are $11...
A product has a contribution per unit of $20. Which action would increase the total contribution by the greatest amount?
What is a benefit of using absorption costing?
What will cause under-absorption of fixed production overheads?
A business provides the following data for the year. budgeted output (units) 10 000 actual output (units) 8 000 $ budgeted fixed production costs...
Rent for premises is paid monthly in advance on the first day of each month. The payments during the last financial year were as follows. up to and...
Which item is revenue expenditure?
The following items appear in a statement of financial position. • an estimate of a liability in a court case, the outcome of which is uncertain • ...
A trial balance shows the following information. $ premises at cost 150 000 accumulated depreciation on premises 25 000 On 1 January the premise...
Which accounting principle attempts to deal with off-balance-sheet transactions?
Draft financial statements show revenue of $106 000 and closing inventory of $2100. There were 100 items which had cost $10 an item but which were ...
Inventory is valued at the lower of cost and net realisable value. Which accounting principle is being applied?
A trial balance includes a suspense account. The bank balance of $28 412 has mistakenly been entered as an overdraft and placed on the credit side ...
A company has obtained the following information for the year ended 31 December. $ opening balance on sales ledger control account 31 000 closing...
A draft income statement shows a profit for the year of $360 000. Interest received for the year of $1200 has been treated as interest paid. What i...
What is prime cost?
A company operates three departments and apportions heat and light on the most appropriate basis. The table shows information for a year. departmen...
Which item appears in the financial statements of a limited company but not in those of a sole trader or partnership?
Which items would appear in a partnership's appropriation account? 1 partners' interest on capital 2 partners' introduction of new capital 3 salari...
The following information relates to the annual membership subscriptions of a cricket club for the year ended 31 December. 1 January $ 31 December ...
A business does not keep complete accounting records. The following information is known: $ capital at start of year 52 000 capital at end of yea...