IGCSE Accounting (0452) — May–June 2023, Paper 11
35 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →Why does the accountant of a business analyse its financial statements? A to provide information for the customers B to provide information for the government C to provide…
Answer this question and get it marked →Padma started a business on 1 April 2022 with $30 000 of her own money. On 31 March 2023, her assets and liabilities were as shown. $ machinery at net book value 38 000 other…
Answer this question and get it marked →A trader credited the income statement and debited his capital account. What does this double entry record? A capital introduced B drawings C loss for the year D profit for the…
Answer this question and get it marked →Ted, a manufacturer, purchased a machine on credit from T Limited. How did Ted record this? account debited account credited A T Limited machinery B T Limited purchases C…
Answer this question and get it marked →The following account appeared in the books of Abdul. Hanif account 2023 $ 2023 $ Jan 18 returns 100 Jan 1 balance b / d 400 31 bank 392 4 purchases 250 discount 8 balance c / d…
Answer this question and get it marked →Which items are shown on a statement of account? A bank charges B credit notes C debit notes D trade discounts
Answer this question and get it marked →A trader issues an invoice for goods sold on credit. The full price of the goods is $2500. The trader allows a trade discount of 15%, and offers a cash discount of 4% for prompt…
Answer this question and get it marked →A trader prepared a trial balance at 31 December. Which statement about this trial balance is correct? A It shows a summary of the financial position at 31 December. B It shows…
Answer this question and get it marked →After completing the trial balance, it was found that an amount of $4000 for motor vehicle repairs had been entered in the motor vehicle account. Which type of error is this? A…
Answer this question and get it marked →At the end of his financial year, Zane opened a suspense account. Why was it necessary to open this account? A the suspense account had been omitted from the ledger B the trial…
Answer this question and get it marked →Jack has opened a suspense account. He has found that rent paid of $250 has been correctly entered in the rent account but credited to the bank account as $520. Which entries will…
Answer this question and get it marked →Naila provided the following information at 31 August. $ debit balance in cash book at 31 August 449 uncredited deposits 424 unpresented cheques 175 interest charged in error by…
Answer this question and get it marked →Which statement about a sales ledger control account is not correct? A It assists in the location of errors. B It helps to deter fraud. C It prevents debts becoming irrecoverable.…
Answer this question and get it marked →The following partly completed account appeared in Candy’s ledger. Purchases ledger control account $ $ Dec 31 bank 42 000 Dec 1 balance b / d 720 discount received 600 31…
Answer this question and get it marked →A trader’s expenditure during the year includes the following amounts. $ redecoration of premises 5 000 insurance of motor vehicles 2 000 purchase of machinery 10 000 How much…
Answer this question and get it marked →Which statement about depreciation is correct? A It is a cash fund to replace a non-current asset. B It is a monetary expense as it involves the outflow of money. C It is an…
Answer this question and get it marked →Rashid provided the following balances at 31 December. $ machinery at cost 52 000 provision for depreciation of machinery 23 000 Depreciation for the year was calculated at 20% on…
Answer this question and get it marked →Annual rental income due from Kumar, a tenant, is $3600. At the start of the year, Kumar had prepaid rent of $900. At the end of the year, he owed two months’ rent. How much rent…
Answer this question and get it marked →At the end of the financial year, Gina had the following items of clothing in her inventory. 100 t-shirts: cost price per unit $15, selling price per unit $30 200 dresses: cost…
Answer this question and get it marked →Which error causes the gross profit to be overstated? A closing inventory under-valued B opening inventory omitted from the income statement C purchases recorded before deduction…
Answer this question and get it marked →Which group consists of only intangible assets? A bank balance, brand names, goodwill B bank balance, trademarks, trade receivables C brand names, goodwill, trademarks D goodwill,…
Answer this question and get it marked →At the end of the financial year, Karim decided to increase his provision for doubtful debts. How will this affect his income statement and the statement of financial position?…
Answer this question and get it marked →What is included in an appropriation account of a partnership? 1 annual salary to which each partner is entitled 2 drawings made by each partner during the year 3 the closing…
Answer this question and get it marked →X and Y are in partnership with capital of $50 000 and $30 000 respectively. The partnership agreement provides that profits are to be shared in proportion to capital invested and…
Answer this question and get it marked →What is an advantage of being a member of a limited company? A Loan capital is easy to obtain. B Dividends must be paid to the member. C Financial statements are prepared quickly.…
Answer this question and get it marked →A limited company provided the following information. $ issued share capital (50 000 ordinary shares of $1 each) 50 000 profit for the year ended 31 December 2022 13 000 transfer…
Answer this question and get it marked →P Limited maintains a provision for doubtful debts account. On 1 April 2022, this account had a balance of $6200. The provision should have been increased to $7400 on 31 March…
Answer this question and get it marked →What is included in the income and expenditure account of a tennis club? A all amounts received and paid during the year B all capital and revenue expenditure incurred during the…
Answer this question and get it marked →Tim started a manufacturing business on 1 January. He provided the following information about his first year in business. $ closing inventory of finished goods 2 060 closing work…
Answer this question and get it marked →Hassan’s capital decreased by $200 over the year, even though he made a profit of $7000. Which transactions caused this? capital introduced drawings $ $ A 1000 8200 B 1200 6000 C…
Answer this question and get it marked →A trader provided the following information. credit sales $36 000 cash sales 10% of total sales net profit margin 30% How much is the net profit? A $9720 B $10 800 C $11 880 D $12…
Answer this question and get it marked →The table shows the gross margin and profit margin for four businesses. Which business controls its overheads most efficiently? gross margin profit margin % % A 40 17 B 37 15 C 35…
Answer this question and get it marked →Ramiz works as a sales manager in a car showroom. He is paid on the basis of the number of cars sold. Which accounting ratio will be relevant to Ramiz? A gross margin B profit…
Answer this question and get it marked →Manvinder started a business and paid a cheque for $1000 into a business bank account. He recorded this in the books of the business by debiting the bank account and crediting the…
Answer this question and get it marked →A trader always records assets and expenses in his ledger at the price he paid for them. Which accounting principle is he applying? A business entity B historic cost C prudence D…
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