AS & A Level Accounting (9706) — May–June 2025, Paper 12
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →Ahmed and Betty are in partnership. They plan to convert the business from a partnership to a limited company. Ahmed and Betty will be shareholders. What is the benefit to Ahmed…
Answer this question and get it marked →What is the correct double entry to record goods taken for own use by the owner of a business? debit credit --- --- --- A drawings inventory B drawings purchases C inventory…
Answer this question and get it marked →Which accounting concepts are applied when depreciating non-current assets? 1 consistency 2 matching / accruals 3 objectivity 4 prudence A 1 and 2 only B 1 and 3 C 1, 2 and 4 D 2,…
Answer this question and get it marked →Which account balance will be in the credit column of a trial balance? A carriage inwards B carriage outwards C purchases returns D sales returns
Answer this question and get it marked →The financial statements were prepared using the following details. $ --- --- purchase cost of machinery (included $450 for repairs to the machinery) 16 950 lighting and heating…
Answer this question and get it marked →What is the purpose of depreciating a non-current asset? A to allocate its cost over its useful life B to reflect its market value C to reflect its replacement cost D to reserve…
Answer this question and get it marked →The non-current assets of a business are shown in the table. end of the year $ start of the year $ --- --- --- cost 360 000 300 000 accumulated depreciation 120 000 75 000…
Answer this question and get it marked →After the profit for the year was calculated, the following errors were discovered. 1 Discount allowed of $550 was recorded as discount received. 2 Rental income of $3500 was…
Answer this question and get it marked →A business's suspense account appears as follows: $ $ --- --- --- --- discount allowed 150 opening balance 100 sales 50 150 150 Which statements are correct? 1 Total debits had…
Answer this question and get it marked →Why does a business prepare a bank reconciliation statement? A to determine the cash in hand balance B to explain the difference between the cash book balance and the bank…
Answer this question and get it marked →A debit balance of $2600 was shown for the bank in the cash book of a business at the end of the month. The bank statement included bank charges of $1200 and interest received of…
Answer this question and get it marked →Why is a sales ledger control account used? 1 to control discounts received 2 to ensure credit customers pay promptly 3 to provide a trial balance figure for trade receivables A 1…
Answer this question and get it marked →A bookkeeper is given the task of reconciling the sales ledger control account with balances in the sales ledger at the end of each month. The sales ledger control account showed…
Answer this question and get it marked →A business paid $5750 during its trading year for advertising. This amount included $500 in respect of the next financial year. How would the correct treatment of the $500 affect…
Answer this question and get it marked →The books of a business showed the following balances at the end of the financial year on 31 December. $ --- --- trade receivables 18 820 allowance for irrecoverable debts 760 The…
Answer this question and get it marked →After preparing the financial statements of a sole trader, the following items were discovered. 1 Drawings consisted of goods taken for own use at their sales value of $12 000.…
Answer this question and get it marked →L and M are in partnership. Which item should appear in the partnership appropriation account? A additional capital contributed by M B cash drawings of L and M during the year C…
Answer this question and get it marked →Valerie and Paul are in partnership, sharing profits and losses in the ratio 5:3 respectively. The partnership profit for the year was $250 000. The appropriation account of the…
Answer this question and get it marked →Which items will be shown in a company's statement of changes in equity? 1 a bonus issue of ordinary shares 2 an issue of debentures 3 a proposed dividend on ordinary shares 4 an…
Answer this question and get it marked →The table shows a company's equity. $ --- --- ordinary shares of $1.00 each 200 000 share premium account 80 000 revenue reserves 160 000 Changes now to be made to the equity (in…
Answer this question and get it marked →A company had the following balances at 31 December. $ --- --- inventory 31 000 trade receivables 88 000 allowance for irrecoverable debts 2 000 bank overdraft 9 000 cash in hand…
Answer this question and get it marked →The table shows year-end information for a company. statement of profit or loss $ statement of financial position $ --- --- --- --- profit for the year 55 200 total assets 350 000…
Answer this question and get it marked →A restaurant owner paid the following: 1 cost of food ingredients 2 maintenance of cooking appliances 3 wages to the chefs 4 wages to the restaurant manager. Which costs are…
Answer this question and get it marked →Total costs for each of two months had been recorded. Variable cost per unit remained constant. Total fixed costs increased by $1000 in July. units produced total costs --- ---…
Answer this question and get it marked →P Limited uses an overhead absorption rate of $15 per machine hour, based on budgeted machine hours of 8000 per month. In July, production required 8500 machine hours, and the…
Answer this question and get it marked →Which statement describes the purpose of overhead allocation? A assignment of specific costs to production departments B assignment of specific costs to service departments C…
Answer this question and get it marked →A manufacturing business provides the following budgeted annual information. $ --- --- direct wages ($12 per labour hour) 600 000 fixed overheads 160 000 Fixed overheads are…
Answer this question and get it marked →Which factor would cause the variable cost line on a break-even chart not to be a straight line? A bulk-buying discounts from suppliers B employing an extra factory supervisor C…
Answer this question and get it marked →The following information is available for a business. $ --- --- budgeted fixed costs per month 2 000 target profit per month 3 000 budget variable cost per unit 15 selling price…
Answer this question and get it marked →What are the assumptions of cost–volume–profit analysis? 1 fixed cost per unit is constant 2 selling price per unit is constant 3 sales volume is constant 4 variable cost per unit…
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