IGCSE Accounting (0452) — October–November 2024, Paper 11
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 purpose of measuring business profit and loss? A to check the productivity of employees B to consider the ability of the business to grow C to determine how much cash…
Answer this question and get it marked →At the end of her first year of trading Zoe had $6500 in her business bank account. Then she paid $5000 of her own money into the business bank account. She used $2000 of this…
Answer this question and get it marked →Which business document is used by a trader to record amounts deposited into the bank account? A bank statement B cheque counterfoil C paying-in slip D statement of account
Answer this question and get it marked →A trader kept a petty cash book using the imprest system. He provided the following information. $ 1 March petty cash balance 80 transfer from bank account to restore the imprest…
Answer this question and get it marked →Sahil took goods from the business for his own use. These goods had a cost of $60 and a selling price of $100. Which entry was made in the drawings account to record this…
Answer this question and get it marked →What is an advantage of using a sales journal? A It enables monthly totals to be posted to the sales ledger. B It ensures that all credit sales are correctly recorded. C It…
Answer this question and get it marked →The following account appeared in the ledger of Eli. Jacob account $ $ June 1 balance b / d 220 June 4 bank 210 22 sales 400 discount 10 30 balance c / d 400 620 620 Which…
Answer this question and get it marked →The totals of a trial balance agreed but it was found that the purchase of office equipment had been debited to office expenses account. Which type of error has been made? A…
Answer this question and get it marked →Mandy’s trial balance failed to agree. The difference of $620 was placed in a suspense account. The suspense account’s balance was shown on the debit side of the trial balance.…
Answer this question and get it marked →Jane took cash drawings from the business. The amount was debited to the purchases account and credited to cash. How did this error affect the profit for the year and the current…
Answer this question and get it marked →What is true about a bank statement? 1 It is a demand by the bank for repayment of an overdraft. 2 It shows a positive bank balance as a debit balance. 3 It shows transactions…
Answer this question and get it marked →On 30 June the bank column in Farad’s cash book showed an overdrawn balance of $2000. The following items had not been entered in the cash book. $ standing order for rent 200…
Answer this question and get it marked →What is an advantage of maintaining a purchases ledger control account? A It detects errors of omission. B It guarantees the accuracy of the ledgers. C It prevents fraud. D It…
Answer this question and get it marked →Raj is both a customer of and a supplier to Balbir. Raj’s account in Balbir’s sales ledger showed a debit balance of $300. There was a credit balance of $100 on Raj’s account in…
Answer this question and get it marked →A limited company sells office equipment. The following amounts were recorded in the company’s books of account. 1 cash received from disposal of motor vehicle $6000 2 cash…
Answer this question and get it marked →On 1 January 2023 Kate paid $400 for a two-year maintenance contract on her machinery starting on that date. In error this amount was debited to the machinery account. Kate…
Answer this question and get it marked →Why should a business depreciate its non-current assets? A to charge the cost of an asset as an expense in the year of purchase B to ensure that cash is available to replace the…
Answer this question and get it marked →A trader had a credit balance on his heat and light account at the start of the financial year. What does this balance represent? A accrued income B an accrued expense C prepaid…
Answer this question and get it marked →Which statements about irrecoverable debts are correct? 1 They are an application of the historic cost principle. 2 They are debts which will not be paid by credit customers. 3…
Answer this question and get it marked →At the end of his financial year Raminder made an adjustment for rent owed to him by a tenant. How did this affect Raminder’s financial statements? profit for the year current…
Answer this question and get it marked →What is a disadvantage of operating as a sole trader? A Access to capital is restricted. B Book-keeping records are more complex. C Decisions may take longer to implement. D The…
Answer this question and get it marked →John and Mark are in partnership. Profits and losses are shared in the ratio 3 : 2. John is entitled to an annual salary of $12 000. The profit for the year ended 31 August 2023…
Answer this question and get it marked →Which statement correctly describes the effect of limited liability if a business fails? A A shareholder can only lose the money they agreed to pay for their shares. B A…
Answer this question and get it marked →At the start of the year, V Limited had $45 750 total equity, of which $10 750 was retained earnings. At the year end, the company had transferred $1000 to general reserve, paid a…
Answer this question and get it marked →The treasurer of a sports club provided the following information. $ clubhouse and sports fields 250 000 sports equipment 80 000 cash at bank 12 000 bank loan 14 000 subscriptions…
Answer this question and get it marked →What will be included in a receipts and payments account of a social club? 1 cash payment for new furniture for the clubhouse 2 depreciation charged on the clubhouse furniture 3…
Answer this question and get it marked →Thato is a manufacturer. His manufacturing account for the year ended 31 December showed that his work in progress had increased. How did this affect the cost of production and…
Answer this question and get it marked →A factory makes uniforms for school children. What is not included in the calculation of prime cost in the factory’s manufacturing account? A cost of the cloth used to make the…
Answer this question and get it marked →The average inventory of a business was $40 000. The rate of inventory turnover was 5 times a year. Mark-up was 20%. What was the revenue for the year? A $160 000 B $200 000 C…
Answer this question and get it marked →Shelley does not maintain a full set of accounting records but was able to provide the following information. $ sales for the year ended 31 August 2023 (80% of which 97 500 were…
Answer this question and get it marked →Wayne provided the following information. $ non-current assets 110 000 current assets 25 000 current liabilities 15 000 profit for the year 23 000 What was the return on capital…
Answer this question and get it marked →The trade payables turnover of a business is 36 days. What do these 36 days represent? A the average number of days before the business purchases further goods on credit B the…
Answer this question and get it marked →Paul’s gross margin increased from 16.5% in year 1 to 17.5% in year 2. What would explain the improvement in the gross margin? A increasing the quantity of goods sold B increasing…
Answer this question and get it marked →M Limited has made sure that its financial statements are comparable with those of previous years. How does this affect interested parties? A They are made aware of any changes in…
Answer this question and get it marked →Which accounting principle states that profit should be recognised when title to the goods passes to the customer? A materiality B money measurement C prudence D realisation…
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