IGCSE Accounting (0452) — October–November 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 →Which action does not reduce the owner’s capital? A business expenses paid using a personal cheque B cash withdrawn from the business bank account for personal use C goods taken…
Answer this question and get it marked →Which statement correctly describes the accounting equation? A capital = assets – liabilities B capital = assets + liabilities C capital = current assets – current liabilities D…
Answer this question and get it marked →What could a credit balance on a ledger account represent? A accrued income B asset C expense D prepaid income
Answer this question and get it marked →Aiden purchased goods from Jai and paid for them by bank transfer when he received a statement of account. Jai says he has not received the payment. Which document would help…
Answer this question and get it marked →At the end of the month, how is the total from the sales journal recorded in the ledger? A credited to the customers’ personal accounts B credited to the sales account C debited…
Answer this question and get it marked →A customer paid $15 600 to a supplier after receiving a 2 21 % cash discount and a trade discount of 20%. What was the amount of the invoice entered in the purchases journal? A…
Answer this question and get it marked →A trader maintains a petty cash book using the imprest system. The imprest amount is $120. The petty cash transactions during the month of June were: $ receipt from a customer 21…
Answer this question and get it marked →Paula’s trial balance contains errors. debit credit $ $ fixtures and fittings 4 000 light and heat 600 purchases 11 200 insurance 1 200 sales 16 500 trade payables 3 500 trade…
Answer this question and get it marked →The following entry was made in a journal to record the correction of an error. debit credit $ $ Wasim 320 bank 320 Which error has been corrected? A A cheque, $160, was credited…
Answer this question and get it marked →Which statement correctly describes a suspense account? A It is an account opened to check for errors in a trial balance. B It is a permanent account used to correct the statement…
Answer this question and get it marked →A trader prepared a draft income statement which showed a profit for the year of $36 000. A check of the books revealed the following information. 1 Drawings made by the owner of…
Answer this question and get it marked →Alicia’s cash book showed a debit balance of $100 on her bank account. She compared her cash book to the bank statement and updated the cash book for the following items. $ credit…
Answer this question and get it marked →The balance of cash at bank shown in the cash book is $1200. The bank statement at the same date shows the balance to be $1440. What could explain the difference? A payment to a…
Answer this question and get it marked →Jane wished to make a contra entry between a sales ledger account and a purchases ledger account. The credit entry was made correctly but the debit entry was entered in the sales…
Answer this question and get it marked →Which transaction is capital expenditure? A capital introduced by the owner B payment of wages C purchase of a new computer D repair of equipment
Answer this question and get it marked →Sales returns were incorrectly recorded as purchases returns in an income statement. What was the effect of this error? A Capital employed was understated. B Cost of sales was…
Answer this question and get it marked →What is a reason for charging depreciation on a non-current asset? A to build up a fund of money that can be used to replace the asset B to charge the cost of the asset over the…
Answer this question and get it marked →Which non-current asset should be depreciated using the revaluation method? A loose tools B mines and wells C motor vehicles D office equipment
Answer this question and get it marked →A motor van originally cost $11 500 and had been depreciated by $9000. The van was sold for $2750. How should the profit or loss on the sale of the van be shown in the disposal…
Answer this question and get it marked →Joseph sells goods on credit and maintains a provision for doubtful debts. He wants to increase his provision for doubtful debts by $400. Which journal entry records this increase…
Answer this question and get it marked →What is an advantage of operating as a sole trader? A being entitled to all profits B being responsible for all losses C having limited liability D having unlimited liability
Answer this question and get it marked →Emma provided the following information at the end of her financial year. $ fees receivable from clients 78 000 rent receivable 11 000 office expenses 20 000 motor expenses 9 000…
Answer this question and get it marked →A trader provided the following data. $ total purchases 25 301 purchase returns 1 945 carriage inwards 748 goods taken for own use 1 425 What was the net figure for purchases in…
Answer this question and get it marked →Pari and Ira are in a partnership, sharing profits and losses equally. Interest on the capital account balances is allowed at 6% per annum. Pari is entitled to a salary of $5000…
Answer this question and get it marked →Which item is directly affected by the dividend policy of a limited company? A general reserve B ordinary share capital C preference share capital D retained earnings
Answer this question and get it marked →What are the features of a debenture? return received rate of return voting rights A dividend based on profit yes B dividend fixed rate no C interest based on profit yes D…
Answer this question and get it marked →How are subscriptions received and subscriptions written off recorded in a receipts and payments account? subscriptions subscriptions received written off A as a credit as a debit…
Answer this question and get it marked →Par Golf Club had a shop that sold golfing equipment to its members. The treasurer provided the following information for the shop for the year ended 31 December. $ sales of…
Answer this question and get it marked →Which option contains only indirect costs? A carriage inwards, factory rent, wages of factory supervisors B carriage inwards, raw materials, wages of machine operators C…
Answer this question and get it marked →The capital of a business is higher at the end of year 2 than it was at the end of year 1. No additional capital has been introduced during year 2. What does this mean? A The…
Answer this question and get it marked →Rahat has not maintained a full set of double entry records. She has details of her assets and liabilities at the start and end of the year. Which additional information does…
Answer this question and get it marked →Toby’s purchases for the year were $13 000. His closing inventory was $1000 more than his opening inventory. Toby’s gross margin is 20%. What was Toby’s revenue for the year? A…
Answer this question and get it marked →CD Limited took out a long-term bank loan and used part of the funds to pay some of its credit suppliers early. How did this affect the trade payables turnover (days) and the…
Answer this question and get it marked →Jimmy made credit sales of $98 550 in each of the years 2021 and 2022. In 2022, his trade receivables turnover was exactly two days shorter than it had been in 2021. What was the…
Answer this question and get it marked →Which characteristic of financial information requires that financial statements be clearly presented and assumes that the users of the financial statements will have a reasonable…
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