IGCSE Accounting (0452) — May–June 2025, Paper 12
35 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →Rikado left his job as a machine operator to start his own manufacturing business. Why was he interested in his financial statements at the end of the first year of business? A to…
Answer this question and get it marked →How is owner's equity calculated? A total assets – total liabilities B total assets + total liabilities C current assets – current liabilities D non-current assets – non-current…
Answer this question and get it marked →Shula's financial year ends on 31 March. On 1 April 2024, there was a credit balance of $100 on Yasmin's account in Shula's purchases ledger. What does this mean? A Shula had paid…
Answer this question and get it marked →Which document may be used by a business as proof that an invoice has been paid? A credit note B paying-in slip C petty cash voucher D receipt
Answer this question and get it marked →Raminder maintains a petty cash book using the imprest system. The monthly imprest of $250 is restored on the first day of each month. In January, the petty cashier spent $105,…
Answer this question and get it marked →Which statement about cash discounts is not correct? A Cash discounts are given if payment is made within the time limit set by the supplier. B Cash discounts are shown as a…
Answer this question and get it marked →Ziningi prepared a trial balance. The total of the debit column was $225 750, and the total of the credit column was $225 250. What could explain the difference? A The bank…
Answer this question and get it marked →Michael opened a suspense account when he prepared draft financial statements. He then discovered that purchases of $68 had been credited to the purchases account as $86. Which…
Answer this question and get it marked →Sameer calculated that his profit for the year was $6300. He then found two errors. 1 A cheque for $3250, received from a credit customer, had only been recorded in the cash book.…
Answer this question and get it marked →Miguel's cash book showed a debit bank balance of $4220. He later discovered the following errors. 1 A cheque for $200, issued for the purchase of office equipment, had been…
Answer this question and get it marked →A trader was reconciling his bank statement with the updated balance of his cash book. There were unpresented cheques and uncredited deposits. The bank statement did not contain…
Answer this question and get it marked →Mary is a trader. She has a debit balance in the bank column of her cash book. Mary has received her bank statement and needs to update her cash book to record the following…
Answer this question and get it marked →The cash book provides information for which control account item? A discount allowed to credit customers B interest charged on overdue accounts C irrecoverable debts written off…
Answer this question and get it marked →When Mark started a car repair business, he purchased premises and equipment. Two years later, he spent $5000 on building an extension, $600 on new equipment and $750 on…
Answer this question and get it marked →On 1 January 2023, equipment was purchased for $50 000. The equipment is expected to have a useful life of five years and a residual value of $10 000. The straight-line method of…
Answer this question and get it marked →Anjum rents part of her premises to Ajay for $6120 per annum. At the beginning of the year, Ajay had paid two months' rent in advance. At the end of the year, Ajay had paid three…
Answer this question and get it marked →Why does a trader write off money owed by a credit customer as an irrecoverable debt? A because the credit customer has not paid their account at the end of the trading period B…
Answer this question and get it marked →Shilpa's financial year ends on 30 April. On 31 March 2025, she wrote off a debt owed by Tahir as irrecoverable. Which entry did Shilpa make on 31 March 2025? The options give the…
Answer this question and get it marked →Tony has prepared an inventory calculation statement at the end of the financial period. item cost $ net realisable value $ --- --- --- cricket bats 600 750 cricket gloves 400 320…
Answer this question and get it marked →Which statement is correct? A The income statement is part of the double entry system and shows a trader's financial performance. B The income statement is part of the double…
Answer this question and get it marked →Draft financial statements prepared at the end of the first year of trading show: • draft profit for the year of $24 000 • trade receivables of $6300. An amount of $200 is to be…
Answer this question and get it marked →Ann and Bob are in partnership and share profits in the ratio 3 : 2 respectively. Ann is entitled to a salary of $20 000 per annum. There is no interest on capital or interest on…
Answer this question and get it marked →What are the advantages to shareholders of operating as a limited company? 1 It has a separate legal identity. 2 It makes it easier to prepare financial statements. 3 It makes it…
Answer this question and get it marked →During the year ended 31 March 2025, subscriptions received by a club amounted to $2500, of which $120 related to the next financial year. On 31 March 2025, subscriptions accrued…
Answer this question and get it marked →The bank account kept by a sports club shows that subscriptions totalling $2695 were received during the financial year. This figure includes arrears of subscriptions owing from…
Answer this question and get it marked →A tennis club sells refreshments on match days. At the end of the first accounting period, the receipts and payments account included the following: $ --- --- receipts from sales…
Answer this question and get it marked →A manufacturing business calculated the following amounts for the year ended 30 April 2025. item $ --- --- prime cost 360 000 factory overheads 114 850 work in progress at 30…
Answer this question and get it marked →Which items are included in the calculation of prime cost in a manufacturing account? A direct and indirect costs B direct materials cost and direct labour cost only C direct…
Answer this question and get it marked →A manufacturer's work in progress at the start of the year was valued at $850. At the end of the year it was valued at $10 200. What was the effect of this increase on the cost of…
Answer this question and get it marked →Gustav began a business on 1 January 2023 with $50 000 capital. He provided the following information for the year ended 31 December 2024. $ --- --- capital opening balance 58 000…
Answer this question and get it marked →The following information is available at the end of Savid's first year of trading. $ --- --- Amount owed by credit customers 9600 Amount owed to credit suppliers 12 800 Total…
Answer this question and get it marked →Which statement is a limitation of the comparison of the accounting ratios of different businesses? A Accounting records include a value for the skills of the workforce. B…
Answer this question and get it marked →Maluti has a trading business that has a bank overdraft and makes a profit. Why would the government be most interested in the financial statements of Maluti? A to compile…
Answer this question and get it marked →Vikram wanted to apply the principle of consistency when accounting for the use of his delivery van. What did this require? A making the same number of deliveries each year B…
Answer this question and get it marked →Benson wanted to compare his profitability with that of his competitors. However, the completion of his financial statements was significantly delayed due to a fire in the room…
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