IGCSE Accounting (0452) — May–June 2023, Paper 13
35 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →What is the main function of book-keeping? A communicating information B interpreting information C recording information D summarising information
Answer this question and get it marked →Which components of a statement of financial position do descriptions 1, 2 and 3 relate to? 1 finance and other resources that have been provided by the owner 2 money owed for…
Answer this question and get it marked →A cheque received from Kate, a credit customer, was dishonoured. How was this dishonoured cheque recorded? account account debited credited A bank Kate B Kate bank C Kate sales D…
Answer this question and get it marked →What does the sales ledger of a business contain? A accounts of trade payables B accounts of trade receivables C sales account D sales ledger control account
Answer this question and get it marked →Which action is an example of double entry book-keeping? A making a journal entry to record the correction of an error made in the ledger B making entries in the sales journal and…
Answer this question and get it marked →What is true about cash discounts received? they are they increase recorded in profit for the cash book the year A B C D
Answer this question and get it marked →Tahir prepared a trial balance. He entered both the balance on the discount allowed account, $900, and the bank overdraft, $750, in the wrong column. Which total of the trial…
Answer this question and get it marked →Goods sold on credit to J Sharp were debited in error to the account of T Sharpe. Which type of error has been made? A commission B complete reversal C original entry D principle
Answer this question and get it marked →Khalid made entries in a suspense account to correct two errors found in his ledger accounts. Once the errors were corrected, the suspense account was closed. error 1 $700 sales…
Answer this question and get it marked →Maya depreciates her motor vehicle at 25% per annum using the straight-line method. The motor vehicle cost $15 000. The depreciation for the current financial year was incorrectly…
Answer this question and get it marked →Waseem received a bank statement. He found that the bank had charged interest twice in error and that a dividend had been received on an investment. Waseem then updated the cash…
Answer this question and get it marked →Thembi is preparing her sales ledger control account. She needs to know: 1 the total for goods which have been returned by credit customers 2 the amount owed by credit customers…
Answer this question and get it marked →On 1 August, the sales ledger control account had a debit balance of $1800. During August, a debt of $200 was written off as irrecoverable and $10 000 was received from credit…
Answer this question and get it marked →A wholesaler had the following transactions. sold goods, $30 000, on credit received cheque, $12 000, from sale of old fixtures at book value How would these amounts be…
Answer this question and get it marked →A trader debited the cost of repairing office equipment to the office equipment account. How did this error affect the financial statements? profit for non-current the year assets…
Answer this question and get it marked →A business bought two assets, X and Y, on 1 January 2022, for $2000 each. It depreciates asset X by 10% per annum using the straight-line method, and asset Y by 10% per annum…
Answer this question and get it marked →Ravi’s financial year ends on 30 April. Ravi bought a motor vehicle for $8000 on 1 May 2020 and sold it for $4050 on 1 May 2022. He uses the reducing balance method of…
Answer this question and get it marked →On 2 January, Razia wrote off $450 owed to her by Annette, a credit customer, as irrecoverable. On 2 October, Annette paid $100 by cheque in part settlement of that debt. Which…
Answer this question and get it marked →Asha provided the following information about her inventory at the end of the financial year. cost price selling price number product per unit per unit of units $ $ P 200 2.50…
Answer this question and get it marked →Which group contains only service businesses? A book shop, language school, newsagent B jewellery repairer, taxi firm, food store C language school, taxi firm, jewellery repairer…
Answer this question and get it marked →What does the statement of financial position of a business show? A assets and liabilities at a certain date B calculation of the annual profit or loss C changes in equity during…
Answer this question and get it marked →A trader pays her insurance premium on 1 January each year for the following 12 months. She made the following payments for insurance. $ 1 January 2022 1680 1 January 2023 1920…
Answer this question and get it marked →Which item is added to the profit for the year in a partnership appropriation account? A interest on capital B interest on drawings C partners’ drawings D partners’ salaries
Answer this question and get it marked →Abi and Erni are in partnership. Erni is entitled to an annual partnership salary of $3000. They share residual profits and losses equally. The profit for the year ended 31 August…
Answer this question and get it marked →What is meant by the term equity? A dividend paid to ordinary shareholders B funds raised through borrowing C interest paid to debenture holders D total funds provided by…
Answer this question and get it marked →During the financial year, AB Limited paid debenture interest of $1400 relating to that financial year. At the end of the year, debenture interest of $700 was accrued. How was…
Answer this question and get it marked →Which items are included in an income and expenditure account prepared for a sports club? 1 cost of new furniture purchased during the year for the clubhouse 2 depreciation on…
Answer this question and get it marked →Melody is a music club. The club holds a music concert once every year. Prizes are awarded to musicians selected by a judge. The club provided the following information related to…
Answer this question and get it marked →A business provided the following information. $ opening inventory of raw material 50 000 closing inventory of raw material 60 000 purchases of raw material 80 000 carriage…
Answer this question and get it marked →Ashwin started a business as a taxi driver on 1 January 2022. His taxi cost $5000 and he paid $100 into a business bank account. He did not keep any accounting records. On 31…
Answer this question and get it marked →A trader did not keep a complete set of accounts. He provided the following information for the year. $ opening trade payables 5 000 closing trade payables 9 800 payments to…
Answer this question and get it marked →T Limited provided the following information. $ net profit before interest 29 200 profit for the year 28 000 equity at the year-end 192 000 6% debentures 20 000 What was T…
Answer this question and get it marked →Sabelo’s liquid (acid test) ratio was higher on 1 January 2022 than it was on 31 December 2022. What could have caused this? A bank overdraft decreased B inventory decreased C…
Answer this question and get it marked →The following ratios relate to the businesses of Ewa and Max. Ewa Max current ratio 2.2 : 1 2.4 : 1 liquid (acid test) ratio 1.4 : 1 1.0 : 1 An accounting student made the…
Answer this question and get it marked →A café owner made no entry in her accounts for increased competition when another café opened nearby. Which accounting principle was applied? A historic cost B materiality C money…
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