Objective test questions are awarded 2 marks each. Explanations follow for answers to objective test questions involving calculations.
|
|
- Bruce Butler
- 5 years ago
- Views:
Transcription
1 Objective test questions are awarded marks each. Explanations follow for answers to objective test questions involving calculations. Question. t 30 June 000, an electricity ledger account had an accrual of 300 and a credit balance was brought down at July 000. uring the financial year, electricity invoices totalling 4,000 were paid, including an invoice for 600 for the quarter ended 3 May 00. What is the profit and loss account charge for electricity payable for the year ended 30 June 00? 3,700 3,900 4,000 4,00 The answer is. Electricity account 3 May 00 Invoices 4,000 July 000 alance b/d June 00 ccrual x! June 00 Profit & loss account 3,900 4,00 4,00 Question. The principal duty of an external auditor is to check that a company s accounts agree with the accounting records. to ensure that a company s systems and controls are adequate to ensure the reliability of the accounting records. to prevent fraud and errors. to provide a report to the shareholders. The answer is. Question.3 On June 000, H paid an insurance invoice of,400 for the year to 3 May 00. What is the charge to the profit and loss account and the entry in the balance sheet for the year ended 3 ecember 000?,000 profit and loss account and prepayment of,400.,400 profit and loss account and accrual of,000.,400 profit and loss account and prepayment of,000.,400 profit and loss account and no entry in the balance sheet. The answer is. Profit and loss account,400 x 7 =,400 alance sheet prepayment,400 x 5 =,000 Question.4 n imprest system records the use of a company s seal. helps to reconcile the cash book with the bank statement. helps to control petty cash. is part of computerised accounting. The answer is. The hartered Institute of Management ccountants 00 Page
2 Question.5 The provision for doubtful debts in the ledger of Ltd at 3 October 000 was 9,000. uring the year ended 3 October 00, bad debts of 5,000 were written off. ebtor balances at 3 October 00 were 0,000 and the company policy is to have a general provision of 5%. What is the charge for bad and doubtful debts in the profit and loss account for the year ended 3 October 00?,000 3,000 5,000 8,000 The answer is. ebtors 0,000 x 5% 6,000 Provision for doubtful debts at 3 October 000 9,000 hange in provision (3,000) ad debts written off 5,000 Profit and loss account,000 Question.6 "true and fair view" occurs when financial statements are presented in accordance with prescribed formats. assets and liabilities are recorded at current values. financial statements have been audited. financial statements are prepared in accordance with generally accepted accounting practice. The answer is. Question.7 company bought a machine on October 996 for 5,000. The machine had an expected life of eight years and an estimated residual value of 4,000. On 3 March 00, the machine was sold for 35,000. The company s year end is 3 ecember. The company uses the straight-line method for depreciation and it charges a full year s depreciation in the year of purchase and none in the year of sale. What is the profit or loss on disposal of the machine? Loss 3,000 Profit 7,000 Profit 0,000 Profit 3,000 The answer is. ost machine October 996 5,000 Residual value (4,000) 48,000 epreciation charge per year = 48,000 = 6,000 8 ost machine 5,000 epreciation 5 years x 6,000 (30,000) Net book value,000 Proceeds on sale 35,000 Profit 3,000 The hartered Institute of Management ccountants 00 Page
3 Question.8 S Ltd, which is registered for purposes of value added tax, bought furniture on credit terms at a cost of 8,000, plus value added tax of,00. What is the correct account entry? R R Furniture 9,00 Supplier 9,00 Furniture 8,000 VT,00 Supplier 6,800 Furniture 8,000 VT,00 Supplier 9,00 Furniture 8,000 Supplier 8,000 The answer is. Question.9 SOR Ltd s stock was valued at 3,000 and excludes goods supplied to a customer on a sale or return basis. The customer still has 30 days within which to return the stock. The goods on sale or return were purchased by SOR Ltd for 6,000 and were invoiced at a markup of 5%. The value of SOR Ltd s stock should be 3,000. 9,000. 0,500.,000. The answer is. Stock at valuation 3,000 Goods on sale or return at cost 6,000 Stock valuation 9,000 Question.0 Ltd s trial balance does not balance. Which ONE of the following errors may be the cause of this failure to balance? The purchase of a machine had been debited to the machine repairs account. cheque from a customer had been credited to the purchase ledger account of the customer. Goods returned inwards had been debited to the sales ledger account of the customer. The depreciation charge on machinery had been credited to the cost of machinery account. The answer is. The hartered Institute of Management ccountants 00 Page 3
4 Question. The current liabilities of FS Ltd include the following: ividends payable 30,000 5,000 The cash flow statement for the year ended in 00 shows dividends paid of 7,000. What were the dividends in the profit and loss account for the year ended 00?,000 7,000 8,000 3,000 The answer is. ividends owing 00 30,000 ividends paid 7,000 Less: ividends owing 000 (5,000) Profit and loss account 3,000 Question. S is employed by T Ltd. His pay details for January and February are as follows: January: Gross salary,000 Tax 500 National insurance 00 Net pay,400 February: Gross salary,00 Tax 550 National insurance 0 Net pay,540 Tax and national insurance are payable to the government one month after they are deducted from employees salaries. How much cash did T Ltd pay out in February in connection with S s wages?,000,060,40,00 The answer is. Net pay February,540 Tax January 500 National Insurance January 00,40 Question.3 The following is an extract from the balance sheets of FR plc for the years ended 3 July 00 and 3 July 000: Stock ebtors reditors ccruals 5 0 What figure would appear in the cash flow statement of FR plc for the year ended 3 July 00 as part of the cash flow from operations? 5,000 outflow 0,000 outflow 0,000 inflow 5,000 inflow The answer is. The hartered Institute of Management ccountants 00 Page 4
5 Stock 30,000 ebtors (0,000) reditors 5,000 ccruals (5,000) 0,000 Question.4 Which ONE of the following provides the best definition of an "audit trail"? The marks left by an auditor when a document has been inspected. The working papers of an auditor. The pursuit of a fraud by an auditor. The trail of a transaction from source document to financial statement. The answer is. Question.5 N plc purchased a machine for 5,000. The transportation costs were,500 and installation costs were 750. The machine broke down at the end of the first month in use and cost 400 to repair. N plc depreciates machinery at 0% each year on cost, assuming no residual value. What is the net book value of the machine after one year, to the nearest dollar? 3,500 4,850 5,55 5,885 The answer is. ost of machine 5,000 Transportation,500 Installation 750 7,50 epreciation at 0% (,75) Net book value 5,55 Question.6 Which ONE of the following might explain the debit balance on a purchase ledger account? The company took a cash discount to which it was not entitled and paid less than the amount due. The company mistakenly paid too much. The book-keeper failed to enter a contra with the sales ledger. The book-keeper failed to post a cheque paid to the account. The answer is. Question.7 In a period of inflation, which ONE of the following methods of charging stock issues to production will give the lowest profit figure? verage cost. LIFO. FIFO. Replacement cost. The answer is. The hartered Institute of Management ccountants 00 Page 5
6 Question.8 Which ONE of the following provides the best explanation of the objective of an internal audit? The objective is to assist directors of a company in the effective discharge of their financial responsibilities towards the members. The objective is to provide support to the external auditor. The objective is to detect fraud and error. The objective is to audit the financial statements. The answer is. Question.9 The following information at 5 January 00 relates to a club, which has a year end of 3 ecember 000: Subscriptions for 999 unpaid at January Subscriptions for 999 paid during the year ended 3 ecember Subscriptions for 000 paid during the year ended 3 ecember 000 6,000 Subscriptions for 00 paid during the year ended 3 ecember 000,000 Subscriptions for 000 unpaid at 3 ecember It is the club s policy to write off overdue subscriptions after one year. What amount should be credited to the income and expenditure account for the year ended 3 ecember 000? 6,50 6,750 7,050 7,50 The answer is. Subscriptions paid for 000 6,000 Subscriptions owing for ,750 Question.0 Who has the responsibility for ensuring that a company maintains proper accounting records? The shareholders. The auditors. The directors. The company secretary. The answer is. Question. Which ONE of the following formulae correctly expresses the relationship between the return on capital employed (ROE), net profit margin (NPM) and asset turnover (T)? ROE = NPM T ROE = NPM + T ROE = NPM x T ROE = NPM T The answer is. The hartered Institute of Management ccountants 00 Page 6
7 Question. The correct ledger entries to record the issue of 50,000 ordinary shares at a premium of 0% and paid by cheque is: R R ank 80,000 Share capital 50,000 Share premium 30,000 ank 80,000 Share premium 80,000 ank 80,000 Share capital 80,000 ank 50,000 Share premium 30,000 Share capital 0,000 The answer is. Question.3 fixed asset register had a balance of 5,000. fixed asset, which had cost,000, was sold for 9,000 at a profit of,000. What is the revised balance on the fixed asset register? 3,000 8,000 5,000 7,000 The answer is. alance on fixed asset register 5,000 Net book value of assets sold Proceeds 9,000 less profit,000 (7,000) 8,000 Question.4 M plc s trial balance did not balance at 3 May 00. The following errors were discovered: Insurance of 500 prepaid at 3 May 000 had not been brought down as an opening balance on the insurance account; Wages of 5,000 had been incorrectly debited to the purchases account; The book-keeper had failed to accrue 300 for the telephone invoice owing at 3 May 00. What was the difference on the trial balance? ,500 5,800 The answer is. Insurance balance omitted 500 Wages mis-posted does not affect trial balance nil ccrual omitted does not affect trial balance nil The hartered Institute of Management ccountants 00 Page 7
8 Question.5 S is a builder who has numerous small items of equipment. He calculates his depreciation using the revaluation method. t the beginning of his financial year he valued his equipment at 0,50; he bought equipment costing 3,450 and he sold equipment valued at,75. t the end of his financial year he valued his equipment at 8,000. What is his depreciation charge on equipment for the year?,50 3,55 5,700,55 The answer is. Valuation at beginning of year 0,50 Purchases 3,450 isposals (,75),55 Valuation at end of year (8,000) epreciation 3,55 The hartered Institute of Management ccountants 00 Page 8
9 Question (a) (b) Prepare a manufacturing, trading and profit and loss account for the year ended 3 July 00 and a balance sheet at that date. alculate: the gearing ratio; debtor days; finished goods stock days. (4 marks) ( marks) ( marks) ( marks) Total marks = 0 Rationale The purpose of this question is to see whether candidates can: istinguish between debit and credit balances in a list of balances. djust for other items, that is stock. Prepare a manufacturing, trading and profit and loss account and a balance sheet. alculate three ratios. Suggested pproach Produce financial statements as described above. alculate three ratios from the accounts. Marking Guide Marks The question requires the correct adjustment for raw materials, work in progress and finished goods. The question does not give the debit and credit balances in the trial balance, so it is important that the balances appear correctly in the accounts as either a debit or credit. The question requires the correct presentation in the income statement, that is the manufacturing, trading and profit and loss account. The balance sheet should be correctly presented and should articulate with the profit and loss account for raw materials, work in progress and finished goods and net profit, using the own number rule. 4 The gearing ratio may be calculated in two different ways and there are acceptable alternative answers: The stock ratio should be calculated in stock days; stock turnover is not required. The question asks for stock and debtor days, not months. 6 Examiner s omments The answers to this question were generally of a pass standard but few candidates obtained high marks. lthough the balance sheet was reasonably well done, the most common error was the inability to prepare a manufacturing account. Most candidates were able to calculate debtor days. However, many candidates were unable to calculate the gearing ratio or the finished goods stock days. Some candidates knew the formula but were unable to extract the correct figures from their financial statements. The hartered Institute of Management ccountants 00 Page 9
10 Question 3 (a) alculate the balance on the bank statement at 30 June 00. (5 marks) (b) Prepare a sales ledger control account for July 00, carrying down the balance at 3 July 00. (5 marks) Total marks = 0 Rationale The purpose of this question is to test whether candidates can prepare a bank reconciliation statement. The purpose of this question is to test whether candidates can prepare a sales ledger control account. Suggested pproach The Examiner s nswer gives a list of figures. lternatively, candidates may prepare a corrected cash book and then proceed to prepare a bank reconciliation statement. The Examiner s nswer is in the form of a ledger account. andidates may use a three-column style account with a running cumulative total. Marking Guide Marks There is no mark for the final figure, as this is merely correct addition. Marks are awarded for using the correct figure and indicating whether it is added or subtracted. 5 There is no mark for the correct debit and credit totals or for the balance carried down, as this is merely correct addition. Marks are given for using the correct figure and showing it as a debit or credit. 5 Examiner s omments The answers to this question were generally poor. The most common error was to fail to distinguish between what was a cash book adjustment and what was a reconciling item with the bank statement. In addition, many candidates were unable to treat a figure in the correct way, mistaking debits for credits or additions for subtractions. The answers to this question were generally well done. However, it was disappointing that a minority of candidates did not know that the opening balance on a sales ledger control account should be a debit balance and could not distinguish between debit and credit entries. The hartered Institute of Management ccountants 00 Page 0
11 Question 4 (a) Identify four potential user groups of financial statements. (4 marks) (b) Explain why user groups in general need accounting information, and state the information they require. hoose two examples of user groups and give the specific information they require and the purpose for which they would require it. (8 marks) (c) Identify and explain three characteristics of useful financial information. (8 marks) Total marks = 0 Rationale The purpose of this question is to test whether candidates can identify four out of the many users of financial statements, explain their needs by linking them to the decisions they have to take, and identify three of the several characteristics of information which make that information useful to the user. Suggested pproach andidates are expected to list four users. Other users not in the suggested answer are trade unions, government, business contact groups. andidates are expected to explain that users need information in order to take decisions. The information they will need will therefore depend on the decisions they have to take. Two examples of this process are banks and employees. Part (c) andidates are expected to take three characteristics of useful information, and explain how these may be important to the users of financial statements. Marking Guide Marks List of potential users 4 Need to take decisions Need financial statements Two examples - marks per example Part (c) Identify characteristics Explain each characteristic Expand upon explanation Examiner s omments Most candidates obtained full marks for this part. Most candidates were able to provide a statement about the information needs of users in general. However, candidates failed to gain marks from the examples they gave, as they often tended to repeat what users in general require, not what a specific user requires. Part (c) Most candidates were able to identify three characteristics of useful financial information. However, few candidates were able to give a satisfactory explanation of what a characteristic meant in financial reporting terminology. The hartered Institute of Management ccountants 00 Page
12 Question 5 Explain each of the following four accounting concepts, and give an example of its application: (a) (b) (c) (d) Going concern. ccruals. onsistency. Prudence (or conservatism). (5 marks) (5 marks) (5 marks) (5 marks) Total marks = 0 Rationale The purpose of this question is to test whether candidates can explain the meaning of four accounting concepts. Suggested pproach andidates are expected to take each concept and to explain it. It is not necessary to make reference to accounting standards. Marking Guide Going concern ontinue in existence Same scale of operations Example ccruals Recognised when earned, not cash flow Matching revenue and expenditure Example onsistency onsistency within a period onsistency between periods Note if change in policy Example Prudence Revenue and profits not anticipated Recognised when realised Provision made for liabilities and losses Example Marks Examiner s omments The answers to all four parts were good. Most candidates who attempted this question were able to explain each of the four accounting concepts and give an example of its application. There were no common errors; marks were generally forgone where the explanation was insufficiently precise or where the example contained insufficient information. The hartered Institute of Management ccountants 00 Page
Answer the ONE question in section A (this has 25 sub-questions and is on pages 2 8).
Foundation Level Financial ccounting Fundamentals 1 FFN 21 November 2001 ay 3 morning INSTRUTIONS TO NITES Read this page before you look at the questions You are allowed three hours to answer this question
More information1 FAFN. You are allowed three hours to answer this question paper. All questions are compulsory.
Examination Question and Answer ook Write your full examination number, your contact I and your name on a double-sided card, which must be attached to this booklet here. Foundation Level Financial Accounting
More informationCBA Model Question Paper CO2. The difference between an income statement and an income and expenditure account is that
CBA Model Question Paper CO2 Question 1 The difference between an income statement and an income and expenditure account is that A an income and expenditure account is an international term for a Income
More informationPaper F3 (INT) Financial Accounting (International) Fundamentals Pilot Paper Knowledge module. The Association of Chartered Certified Accountants
Fundamentals Pilot Paper Knowledge module Financial ccounting (International) Time allowed: 2 hours LL FIFTY questions are compulsory and MUST be attempted. Paper F3 (INT) o NOT open this paper until instructed
More informationCAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2003 dditional Materials: Multiple hoice nswer Sheet
More informationCambridge International General Certificate of Secondary Education 0452 Accounting June 2012 Principal Examiner Report for Teachers
ACCOUNTING Cambridge International General Certificate of Secondary Education Paper 0452/11 Paper 11 Key Messages This question paper contained a mixture of multiple-choice, short-answer and structured
More informationCambridge International General Certificate of Secondary Education 0452 Accounting November 2014 Principal Examiner Report for Teachers
ACCOUNTING Cambridge International General Certificate of Secondary Education Paper 0452/11 Paper 11 Key Messages Questions can be set on any section of the syllabus and a good knowledge of all sections
More informationPaper T3 (INT) Maintaining Financial Records (International Stream) Wednesday 9 December 2009
ertifi ed ccounting Technician Examination Intermediate Level Maintaining Financial Records (International Stream) Wednesday 9 ecember 2009 Time allowed: 2 hours This paper is divided into two sections:
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level PRINCIPLES OF ACCOUNTS
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/01 www.xtremepapers.com Paper 1 Multiple hoice October/November 2006 dditional Materials:
More informationCambridge International General Certificate of Secondary Education 0452 Accounting June 2016 Principal Examiner Report for Teachers
ACCOUNTING Cambridge International General Certificate of Secondary Education Paper 0452/11 Paper 11 Key messages Candidates should read the question carefully before attempting to answer. A label for
More informationManagement Accounting Fundamentals (FMAF)
POST EXM GUIE May 2001 Exam Management ccounting Fundamentals (FMF) IM publishes a Question and nswer booklet for each paper of the May 2001 exam which is essential reading for students and tutors. The
More informationCambridge International General Certificate of Secondary Education 0452 Accounting June 2014 Principal Examiner Report for Teachers
ACCOUNTING Cambridge International General Certificate of Secondary Education Paper 0452/11 Paper 11 Key Messages Question 1 consisted of ten multiple choice items covering topics across the whole syllabus.
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS International General ertificate of Secondary Education OUNTING 0452/01 www.xtremepapers.com Paper 1 Multiple hoice May/June 2006 dditional Materials: Multiple
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level
*6909629618* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/01 Paper 1 Multiple hoice October/November 2007 dditional Materials: Multiple
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2005 dditional Materials: Multiple
More informationPRINCIPLES OF ACCOUNTS
PRINCIPLES OF ACCOUNTS GCE ORDINARY LEVEL (SYLLABUS 7092) INTRODUCTION The syllabus aims to develop an understanding of the principles and concepts of accounting and their applications in a variety of
More informationO & A Level Accounting Online Lectures By Waseem Hassan Gul
O & Level ccounting Online Lectures y Waseem Hassan Gul whg4gul@gmail.com : (For E. Mail & Text hat) whg4gul : (Skype: Voice all) 0092-333-4374592 : (Voice all) http://whg.awardspace.com : (For Notes &
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2008 1 hour *1421697722* dditional
More informationACCOUNTING... 2 SRIGCSGPOVIN0201 Group V Creative, Technical and Vocational
SRIGCSGPOVIN0201 www.xtremepapers.com Group V Creative, Technical and Vocational ACCOUNTING... 2 Paper 0452/01 Paper 1 - Multiple Choice... 2 Paper 0452/02 Paper 2... 3 Paper 0452/03 Accounting... 8 1
More informationUNIVERSITY OF MALTA SECONDARY EDUCATION CERTIFICATE SEC ACCOUNTING. May Marking Scheme Paper I
UNIVERSITY OF MALTA SECONDARY EDUCATION CERTIFICATE SEC ACCOUNTING May 2011 Marking Scheme Paper I MATRICULATION AND SECONDARY EDUCATION CERTIFICATE EXAMINATIONS BOARD PAPER I Answer ALL questions. Question
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2006 dditional Materials: Multiple
More informationCambridge International General Certificate of Secondary Education 0452 Accounting November 2011 Principal Examiner Report for Teachers
ACCOUNTING Cambridge International General Certificate of Secondary Education www.xtremepapers.com Paper 0452/11 Paper 11 Key messages This question paper contained a mixture of multiple-choice, short
More informationPRINCIPLES OF ACCOUNTS
PRINCIPLES OF ACCOUNTS Paper 7110/11 Multiple Choice Question Number Key Question Number Key 1 B 16 B 2 D 17 C 3 B 18 B 4 A 19 A 5 D 20 D 6 A 21 C 7 C 22 A 8 D 23 D 9 A 24 B 10 C 25 C 11 C 26 C 12 B 27
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice October/November 2004 dditional Materials: Multiple
More informationPaper 1.1(INT) Preparing Financial Statements. (International Stream) PART 1 THURSDAY 4 DECEMBER 2003 QUESTION PAPER. Time allowed 3 hours
Preparing Financial Statements (International Stream) PRT 1 THURSY 4 EEMER 2003 QUESTION PPER Time allowed 3 hours This paper is divided into two sections Section Section LL 25 questions are compulsory
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice May/June 2004 dditional Materials: Multiple
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved No. of Pages - 13 No of Questions - 06 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I INTAKE VIII (GROUP A) END SEMESTER
More informationPrepare the necessary journal entries to correct the above. Narrations are not required.
Correction of errors HKDSE (2017, 5) (Correction of errors) ABC Limited drafted a trial balance as at 31 December 2016, before the preparation of the closing entries. As the trial balance did not agree,
More informationBOOKS OF ORIGINAL ENTRIES
BOOKS OF ORIGINAL ENTRIES These are the books of first entry. The transactions are first recorded in these books before being entered in the ledger books. These books are also called as books of Prime
More informationICAN MID DIET LIVE CLASS FOR MAY DIET 2015 FINANCIAL ACCOUNTING Introduction to financial accounting Recording non-current assets and depreciation
ICAN MID DIET LIVE CLASS FOR MAY DIET 2015 FINANCIAL ACCOUNTING Introduction to financial accounting Recording non-current assets and depreciation Compiling financial statement Compiling financial statement
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*7357873699* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice May/June 2013 dditional Materials:
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education
*7159834754* Cambridge International Examinations Cambridge International General Certificate of Secondary Education ACCOUNTING 0452/11 Paper 1 May/June 2014 Candidates answer on the Question Paper. No
More informationPANCHAKSHARI S PROFESSIONAL ACADEMY PVT LTD (Your Lifelong Knowledge Partner )
50 Questions 50 Marks 60 Minutes Rectification of Error Select the best choice to answer the following questions: 1. Which of the following statement is/are correct? (i) A separate suspense account should
More informationFANLING LUTHERAN SECONDARY SCHOOL
FANLING LUTHERAN SECONDARY SCHOOL 2012 2013 2 nd Term Examination S.5 BUSINESS, ACCOUNTING AND FINANCIAL STUDIES Accounting Module Date : 20th June, 2013 Time allowed: 8:30 am - 11:00 am (2 hour 30 minutes)
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*2644097906* ambridge International Examinations ambridge International Advanced Subsidiary and Advanced Level AOUNTING 9706/13 Paper 1 Multiple hoice May/June 2016 Additional Materials: Multiple hoice
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
ambridge International Examinations ambridge Ordinary Level *3191292152* PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice October/November 2015 dditional Materials: RE THESE INSTRUTIONS FIRST Multiple
More informationExaminer s general comments
Examiner s general comments The following provides guidance to candidates preparing for future examinations and has been prepared with that in mind. It therefore may give the impression that there were
More informationMINISTRY OF EDUCATION
REPUBLIC OF NAMIBIA MINISTRY OF EDUCATION NAMIBIA SENIOR SECONDARY CERTIFICATE ACCOUNTING SPECIMEN PAPERS 1 2 AND MARK SCHEMES HIGHER LEVEL GRADES 11 12 THESE PAPERS AND MARK SCHEMES SERVE TO EXEMPLIFY
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*7990156511* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice May/June 2018 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*5449374996* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/12 Paper 1 Multiple hoice October/November 2015 1 hour dditional Materials: Multiple
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice October/November 2016 1 hour *1983058399* dditional Materials: RE
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*6926049276* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/11 Paper 1 Multiple hoice October/November 2017 dditional Materials: Multiple hoice nswer Sheet Soft clean
More information*2930524558* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level PRINIPLES OF OUNTS 7110/01 Paper 1 Multiple hoice October/November 2010 dditional Materials: Multiple
More informationCambridge International General Certificate of Secondary Education 0452 Accounting November 2012 Principal Examiner Report for Teachers
ACCOUNTING Cambridge International General Certificate of Secondary Education Paper 0452/11 Paper 1 Key Messages This question paper contained a mixture of multiple-choice, short-answer and structured
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*3484335703* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/13 Paper 1 Multiple hoice October/November 2017 1 hour dditional Materials: Multiple
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*0858808304* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice October/November 2012 1 hour dditional
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level www.xtremepapers.com OUNTING 9706/12 Paper 1 Multiple hoice October/November 2014 1 hour *4917415577* dditional
More informationAnnual Qualification Review
LCCI International Qualifications Level 2 Certificate in Book-Keeping and Accounts Annual Qualification Review 2008 For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com
More information*0953130067* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/11 Paper 1 Multiple hoice May/June 2014 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
More informationCambridge International Advanced Subsidiary Level and Advanced Level 9706 Accounting June 2015 Principal Examiner Report for Teachers
Cambridge International Advanced Subsidiary Level and Advanced Level ACCOUNTING Paper 9706/11 Multiple Choice Question Number Key Question Number Key 1 D 16 A 2 C 17 A 3 D 18 B 4 B 19 A 5 D 20 D 6 A 21
More informationSCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME
All Rights Reserved No. of Pages - 12 No of Questions - 06 SCHOOL OF ACCOUNTING AND BUSINESS BSc. (APPLIED ACCOUNTING) GENERAL / SPECIAL DEGREE PROGRAMME YEAR I SEMESTER I (INTAKE VI GROUP B) END SEMESTER
More information*6363003894* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice May/June 2014 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education
*0535568012* UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education ACCOUNTING 0452/12 Paper 1 October/November 2010 Candidates answer on the Question
More informationQuestion No: 1 ( Marks: 1 ) - Please choose one Wages outstanding given in the trial balance will be treated as a (an):
Question No: 1 ( Marks: 1 ) - Please choose one Wages outstanding given in the trial balance will be treated as a (an): Asset Liability Revenue Deferred expense Question No: 2 ( Marks: 1 ) - Please choose
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*9326809883* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/12 Paper 1 Multiple hoice May/June 2012 1 hour dditional
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*5023155209* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/13 Paper 1 Multiple hoice October/November 2013 1 hour dditional
More informationLimited Companies Question: Explain the meaning of the following terms so as to make clear the differences between them: Ordinary Shares are
Limited Companies Explain the meaning of the following terms so as to make clear the differences between them: Ordinary Shares are certificates of ownership to a company. They are issued to shareholders
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*5614158211* Cambridge International Examinations Cambridge Ordinary Level PRINCIPLES OF ACCOUNTS 7110/11 Paper 1 Multiple Choice May/June 2015 Additional Materials: Multiple Choice Answer Sheet Soft clean
More informationACCOUNTING Accounting June 2003
www.xtremepapers.com ACCOUNTING... 2 Paper 0452/01 Multiple Choice... 2 Paper 0452/02 Paper 2... 3 Paper 0452/03 Paper 3... 8 1 Paper 0452/01 Multiple Choice Question Number Key Question Number 1 D 21
More informationPRINCIPLES OF ACCOUNTS
PRINCIPLES OF ACCOUNTS Paper 7110/11 Paper 11 Question Number Key Question Number Key 1 B 16 B 2 C 17 B 3 D 18 D 4 C 19 A 5 B 20 B 6 B 21 A 7 C 22 D 8 D 23 A 9 B 24 B 10 A 25 C 11 D 26 D 12 A 27 C 13 C
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*1813814735* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice October/November 2015 1 hour dditional Materials: Multiple
More informationACCOUNTING 7707/01. Paper 1 Multiple Choice For examination from 2020
ambridge O Level OUNTING 7707/01 Paper 1 Multiple hoice For examination from 2020 SPEIMEN PPER 1 hour 15 minutes You must answer on the multiple choice answer sheet. *0123456789* You will need: Multiple
More informationACCOUNTING - HIGHER LEVEL (400 marks)
L.55 PRE-LEAVING CERTIFICATE EXAMINATION 2013 ACCOUNTING - HIGHER LEVEL (400 marks) TIME : 3 HOURS This paper is divided into 3 Sections: Section 1: Financial Accounting (120 marks). This section has four
More informationCoimisiún na Scrúduithe Stáit State Examinations Commission
2014. M55 Coimisiún na Scrúduithe Stáit State Examinations Commission LEAVING CERTIFICATE EXAMINATION 2014 A C C O U N T I N G - H I G H E R L E V E L (400 marks) This paper is divided into 3 Sections:
More informationAccounting *P48370A0120* P48370A. Paper 1. Pearson Edexcel International GCSE. Tuesday 24 January 2017 Morning Time: 2 hours 30 minutes.
Write your name here Surname Other names Pearson Edexcel International GCSE Accounting Paper 1 Centre Number Candidate Number Tuesday 24 January 2017 Morning Time: 2 hours 30 minutes You do not need any
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*8687630075* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice May/June 2015 dditional Materials: Multiple hoice nswer
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*3965380194* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice May/June 2015 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*2583619885* UNIVERSITY OF CMRIGE INTERNTIONL EXMINTIONS General Certificate of Education dvanced Subsidiary Level and dvanced Level CCOUNTING 9706/11 Paper 1 Multiple Choice October/November 2011 1 hour
More informationExecutive Level. Financial Accounting & Reporting Fundamentals. (3) Section 1(a): 10 multiple choice questions (MCQs) all questions are compulsory.
Copyright Reserved No. of pages: 14 Executive Level Financial Accounting & Reporting Fundamentals Instructions to candidates (1) Time allowed: Reading and planning 15 minutes Writing 3 hours (2) Total:
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*6400958462* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/11 Paper 1 Multiple hoice May/June 2010 1 hour dditional
More informationCambridge International Advanced Subsidiary and Advanced Level 9706 Accounting June 2016 Principal Examiner Report for Teachers
ACCOUNTING Cambridge International Advanced Subsidiary and Advanced Level Paper 9706/11 Multiple Choice Question Number Key Question Number Key 1 D 16 C 2 A 17 A 3 C 18 B 4 D 19 B 5 B 20 A 6 C 21 C 7 C
More informationCoimisiún na Scrúduithe Stáit State Examinations Commission
M55 Coimisiún na Scrúduithe Stáit State Examinations Commission LEAVING CERTIFICATE EXAMINATION, 2004 A C C O U N T I N G - H I G H E R L E V E L (400 marks) THURSDAY, 17 TH JUNE 2004 - MORNING 9.30 a.m.
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*7951402153* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/11 Paper 1 Multiple hoice May/June 2016 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*8386255606* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level OUNTING 9706/13 Paper 1 Multiple hoice May/June 2015 dditional Materials: Multiple hoice nswer
More informationThis paper consists of TWENTY FIVE questions ONE long question (40 marks) and TWENTY FOUR objective test questions (60 marks).
ERTIFITE LEVEL EXMINTION SMPLE PPER 2 (90 MINUTES) OUNTING This paper consists of TWENTY FIVE questions ONE long question (40 marks) and TWENTY FOUR objective test questions (60 marks). This paper will
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*2206786660* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice October/November 2018 dditional Materials: Multiple hoice nswer Sheet Soft clean
More informationPRINCIPLES OF ACCOUNTS 7110/2
Centre Number Candidate Number Candidate Name CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level PRINCIPLES OF ACCOUNTS 7110/2 PAPER 2 MAY/JUNE SESSION 2002 1 hour 45
More informationCertificate in Book-keeping and Accounts
Certificate in Book-keeping and Accounts ASE2007 Level 2 Monday 8 April 2013 Time allowed: 3 hours Information There are 5 questions in this question paper. All questions carry equal marks. Instructions
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education
*8375935637* Cambridge International Examinations Cambridge International General Certificate of Secondary Education ACCOUNTING 0452/11 Paper 1 October/November 2015 Candidates answer on the Question Paper.
More informationFinancial Accounting. Sample Paper / 2018 Questions & Suggested Solutions
Financial Accounting Sample Paper 2 2017 / 2018 Questions & Suggested Solutions NOTES TO USERS ABOUT SAMPLE PAPERS Sample papers are published by Accounting Technicians Ireland. They are intended to provide
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education *7471332988* ACCOUNTING 0452/12 Paper 1 May/June 2010 Candidates answer on the Question Paper.
More informationSection A ALL 35 questions are compulsory and MUST be answered. Section B BOTH questions are compulsory and MUST be answered.
REVISION MOK Financial ccounting June 2014 Time allowed 2 hours This paper is divided into two sections: Section LL 35 questions are compulsory and MUST be answered. Section OTH questions are compulsory
More informationCoimisiún na Scrúduithe Stáit State Examinations Commission
2018. M55 Coimisiún na Scrúduithe Stáit State Examinations Commission LEAVING CERTIFICATE EXAMINATION 2018 ACCOUNTING - HIGHER LEVEL (400 marks) MONDAY 18 JUNE AFTERNOON 2.00 5.00 This paper is divided
More informationC02-Fundamentals of Financial Accounting
1. Answer B Principle difference between Income Statement and Income & Expenditure Account. 2. Answer D Principle knowledge about the usage and preparation of Financial Accounts and Management Accounts.
More informationMULTIPLE CHOICE QUESTIONS CHAPTERS 6 10
MULTIPLE CHOICE QUESTIONS CHAPTERS 6 10 CHAPTER 6 1. Each T account contains the exact amount owing to a supplier (A) Sales ledger (B) Purchases ledger (C) General ledger (D) Cash book 2. The Trial balance
More informationA C C O U N T I N G - H I G H E R L E V E L (400 marks)
AN ROINN OIDEACHAIS AGUS EOLAÍOCHTA M.55 LEAVING CERTIFICATE EXAMINATION, 2001 A C C O U N T I N G - H I G H E R L E V E L (400 marks) THURSDAY, 14 TH JUNE - MORNING 9.30 a.m. to 12.30 p.m. This paper
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Subsidiary Level and Advanced Level
*4604939511* UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education dvanced Subsidiary Level and dvanced Level OUNTING 9706/01 Paper 1 Multiple hoice October/November 2008 1 hour dditional
More informationPRINCIPLES OF ACCOUNTS
PRINCIPLES OF ACCOUNTS Paper 7110/11 Paper 11 Question Question Key Number Number Key 1 D 16 B 2 A 17 B 3 D 18 C 4 C 19 C 5 B 20 A 6 D 21 B 7 D 22 C 8 A 23 A 9 C 24 D 10 A 25 A 11 D 26 C 12 D 27 D 13 A
More informationPaper - 1 Fundamentals of Accounting
Paper - 1 Fundamentals of Accounting Chapter 1 : Accounting : An Introduction Unit 2 : Accounting Concepts, Principles and Conventions [1] What is the objective of conservatism? (a) Take all incomes and
More informationUNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education
UNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS International General ertificate of Secondary Education *3393387713* OUNTING 0452/01 Paper 1 Multiple hoice May/June 2008 dditional Materials: RE THESE INSTRUTIONS
More informationUNIVERSITY OF MRIGE INTERNTIONL EXMINTIONS General ertificate of Education Ordinary Level *2953491393* PRINIPLES OF OUNTS 7110/11 Paper 1 Multiple hoice May/June 2010 dditional Materials: RE THESE INSTRUTIONS
More informationSoft clean eraser Soft pencil (type B or HB is recommended)
*2290972064* ambridge International Examinations ambridge Ordinary Level PRINIPLES OF OUNTS 7110/12 Paper 1 Multiple hoice October/November 2016 dditional Materials: Multiple hoice nswer Sheet Soft clean
More informationINTI COLLEGE MALAYSIA CAMBRIDGE A - LEVEL PROGRAMME ACC111 : ACCOUNTING 1 SEMESTER EXAMINATION : APRIL 2003 SESSION
111 / Page 1 of 11 INTI OLLEGE MLYSI MRIGE - LEVEL PROGRMME 111 : OUNTING 1 SEMESTER EXMINTION : PRIL 2003 SESSION Section (nswer all questions on the OMR sheets) Select the best answer for each question.
More informationLESOTHO GENERAL CERTIFICATE OF SECONDARY EDUCATION
LESOTHO GENERAL CERTIFICATE OF SECONDARY EDUCATION Lesotho General Certificate of Secondary Education Syllabus Accounting 0187 For examination in November 2018 National Curriculum Development Centre in
More informationCambridge International Examinations Cambridge International General Certificate of Secondary Education
Cambridge International Examinations Cambridge International General Certificate of Secondary Education *0736616253* ACCOUNTING 0452/12 Paper 1 February/March 2016 1 hour 45 minutes Candidates answer on
More informationAccounting Fundamentals July 2012
Accounting Fundamentals July 2012 Suggested answers and examiner s comments Important notice When reading these suggested answers, please note that the answers are intended as an indication of what is
More informationCOMPOSED BY SADIA ALI SADI (MBA)
Mega File MGT101 Fall 2011 Question No: 7 ( Marks: 1 ) - Please choose one Which of the following business publishes the Financial Statements? Sole-Proprietorship Partnership Trust Public Limited Company
More informationMARK SCHEME for the October/November 2013 series 0452 ACCOUNTING. 0452/11 Paper 1, maximum raw mark 120
CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the October/November 2013 series 0452 ACCOUNTING 0452/11 Paper 1, maximum raw mark 120 This
More informationPRINCIPLES OF ACCOUNTS
PRINCIPLES OF ACCOUNTS Paper 7110/11 Multiple Choice Question Number Key Question Number Key 1 C 16 C 2 D 17 A 3 D 18 B 4 B 19 B 5 A 20 A 6 D 21 D 7 D 22 A 8 C 23 D 9 A 24 A 10 B 25 D 11 A 26 C 12 A 27
More informationSIR MICHELANGELO REFALO
SIR MICHELANGELO REFALO SIXTH FORM Half-Yearly Exam 2015 Subject: ACCOUNTING ADV 1 st Time: 3 hrs Section A Answer all the questions in this section 1. Some clubs operate life membership schemes. (a) How
More information