AS & A Level Accounting (9706) — October–November 2024, Paper 13
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →Which book of prime entry is used to record the sale of a non-current asset on credit? Options: A cash book B general journal C sales journal D sales returns journal
Answer this question and get it marked →An item is found to be the subject of a material error in a company's financial statements. What does 'material' mean? Options: A The item affects only the statement of profit or…
Answer this question and get it marked →Which accounting concepts are applied when a business makes an annual charge for depreciation of non-current assets? 1 consistency 2 matching / accruals 3 prudence 4 realisation…
Answer this question and get it marked →A business recorded expenditure on improving a non-current asset as revenue expenditure. What is the effect of this error on the carrying value of non-current assets and profit…
Answer this question and get it marked →A car dealer and garage owner has the following vehicles at her premises. 1 breakdown truck for recovering customers' vehicles 2 new cars in the showroom 3 service department car…
Answer this question and get it marked →The table shows details of a freehold property. $ --- --- historical cost 80 000 depreciation 25 000 The property is to be shown in the statement of financial position at its…
Answer this question and get it marked →The following information relates to the motor vehicles of a business. 1 January 2021 $ 31 December 2021 $ --- --- --- carrying value 398 000 480 000 During the year 2021 the…
Answer this question and get it marked →Janet paid Samir after purchasing goods from him on credit. Samir made an error of reversal when recording the cash discount. What was the double entry made by Samir in error in…
Answer this question and get it marked →There were two errors in Bernie's books of account. 1 The sales journal had been undercast by $200. 2 A payment for insurance of $120 was correctly entered in the cash book but…
Answer this question and get it marked →The bank column of a business cash book showed a debit balance of $25 000. The following information was then discovered. $ --- --- direct debit payments not recorded in the cash…
Answer this question and get it marked →Henry received a credit note from a supplier. He treated this in error as an invoice received and entered it in his purchases journal. When was the error revealed? Options: A when…
Answer this question and get it marked →At the end of the year, the balance on a firm's sales ledger control account was $12 900. The total of the customers' accounts in the sales ledger was $11 900. The following…
Answer this question and get it marked →A book-keeper makes the following adjustments to ledger accounts before making transfers to the statement of profit or loss for the period. 1 The insurance expense account is…
Answer this question and get it marked →At the end of a financial year, the following took place in a business: 1 Trade receivables with a value of $10 000 were written off as irrecoverable. 2 A bank loan of $20 000 was…
Answer this question and get it marked →A trader started business on 1 January with capital of $120 000. At the end of the financial year on 31 December, the balance on the capital account was $150 000 after entering…
Answer this question and get it marked →Annie and Benny were in partnership. They maintained both capital and current accounts. On 1 January Annie's capital was $20 000. On 1 April she transferred her private motor…
Answer this question and get it marked →X and Y are in partnership. The following information is available at the end of the year. X $ Y $ total $ --- --- --- --- interest on loan - 2 000 2 000 interest on drawings 600…
Answer this question and get it marked →Which of these are revenue reserves? 1 general reserve 2 retained earnings 3 revaluation reserve 4 share premium account Options: A 1 and 2 B 1 and 3 C 2 and 3 D 2 and 4
Answer this question and get it marked →A company made a bonus issue of ordinary shares. Where would this appear in the financial statements? Options: A statement of changes in equity and statement of financial position…
Answer this question and get it marked →A company provided the following information for the financial year ended 31 December. 1 January $ 31 December $ --- --- --- ordinary share capital ($1 shares) 500 000 600 000…
Answer this question and get it marked →The draft financial statements of a business showed values for trade receivables, inventory, trade payables and bank overdraft. Which events would cause the acid test ratio to…
Answer this question and get it marked →The following information is available about Chi's business. $ --- --- opening inventory 18 000 closing inventory 26 000 cost of sales 442 000 When calculating his rate of…
Answer this question and get it marked →Which statement is not an advantage of just in time (JIT) inventory management? Options: A reduction of investment in inventory B reduction of purchase cost of inventory C…
Answer this question and get it marked →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 in production. For week 25 he…
Answer this question and get it marked →Which statements about a job costing system are correct? 1 Costs of production are averaged across all jobs. 2 Costs are charged individually to each job. 3 Jobs are not produced…
Answer this question and get it marked →A bakery produces 1000 muffins a day. The total direct costs for these are shown. $ --- --- direct materials 1800 direct wages 600 An oven must be set up for each batch of 50…
Answer this question and get it marked →A business provided the following budgeted information. Production and sales were forecast to be 5000 units. $ --- --- selling price per unit 80 variable cost per unit - direct…
Answer this question and get it marked →Which statement about the break-even point is correct? Options: A total contribution equals total fixed costs B total contribution equals total profit C total contribution plus…
Answer this question and get it marked →A company makes 500 units and sells these units at $50 each. The direct materials cost $7500, direct labour costs $2500 and fixed overheads are $8400. How much profit will be made…
Answer this question and get it marked →A company is considering reducing the selling price of its product by $1 per unit. Why might it use cost-volume-profit analysis in making this decision? Options: A to ascertain…
Answer this question and get it marked →← October–November 2024 Paper 21 · October–November 2024 Paper 12 →