IGCSE Accounting (0985) — May–June 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 →Which task is performed by a book-keeper? A analysing accounting ratios B interpreting the income statement C posting entries from the journals to the ledgers D preparing a…
Answer this question and get it marked →Which statement is correct? A Accounting involves measuring profits and losses. B Accounting is the recording of financial transactions. C Book-keeping involves communicating…
Answer this question and get it marked →In which book of prime entry does a trader record cash discount received? A cash book B general journal C purchases journal D sales journal
Answer this question and get it marked →The analysis columns of a petty cash book show the following totals. $ --- --- postage 20 stationery 31 How should these totals be posted to the ledger? A credit bank account with…
Answer this question and get it marked →Which business documents are not entered in the books of prime entry? 1. credit note 2. debit note 3. invoice 4. statement of account A 1 and 3 B 1 only C 2, 3 and 4 D 2 and 4 only
Answer this question and get it marked →A trader has the following ledger account. heat and light account Year 1 (Dr) $ Year 1 (Cr) $ --- --- --- --- Jan 1 balance b/d 400 Dec 31 income statement 4850 Dec 31 bank 4200…
Answer this question and get it marked →Which statement about a trial balance is correct? A It is a list of the ledger balances on a particular date. B It is part of the double entry system of book-keeping. C It is…
Answer this question and get it marked →Trevor prepared his financial statements for the year ended 31 December 2020. He then discovered that he had omitted to record a cash payment, $240, for insurance for the 12…
Answer this question and get it marked →A payment of $68 for insurance has been entered in the insurance account as $86. Which double entry will correct this? debit credit --- --- --- A insurance $18 suspense $18 B…
Answer this question and get it marked →A business has received a bank statement. The bank statement shows the following entries. 1. a cheque issued to a credit supplier 2. a cheque received from a credit customer 3. a…
Answer this question and get it marked →On 31 May the bank statement of a business showed a positive bank balance of $1790. Comparing the bank statement with the cash book the following items were discovered. The bank…
Answer this question and get it marked →What would not be included in a sales ledger control account? A cash sales recorded in the cash book B cheques received from credit customers recorded in the cash book C goods…
Answer this question and get it marked →Nadia provided the following information for the month of July. $ --- --- 1 July sales ledger control account balance debit 1750 1 July sales ledger control account balance credit…
Answer this question and get it marked →Samir runs a car hire business. He received cash payments for car hire. He also received the proceeds from the sale of an old vehicle. Which type of receipts were they? car hire…
Answer this question and get it marked →The following ledger account appeared in the books of a trader. Rent receivable account 2020 (Dr) $ 2020 (Cr) $ --- --- --- --- Dec 31 balance c/d 600 Jan 1 balance b/d 400 Dec 31…
Answer this question and get it marked →Mandeep depreciates his motor vehicles at the rate of 20% using the straight-line method. A full year's depreciation is provided in the year of purchase. Mandeep bought a motor…
Answer this question and get it marked →Why does a trader maintain a provision for doubtful debts? 1. to ensure amounts owing to the business for which payment is unlikely to be received are regarded as an expense 2. to…
Answer this question and get it marked →Why is inventory valued at the lower of cost and net realisable value? A to avoid overstating current assets and sales B to avoid overstating profit and current assets C to avoid…
Answer this question and get it marked →At the end of the financial year Cindy valued her inventory at cost. This valuation incorrectly included damaged goods costing $300. Cindy estimated these goods could be sold for…
Answer this question and get it marked →Which business is not a service business? A accountant's practice B computer repair shop C flower shop D hairdressing salon
Answer this question and get it marked →A trader was preparing her statement of financial position at 30 June 2021. She had four bank loans. loan date repayable $ --- --- --- 1 1 December 2021 5 000 2 1 December 2022 10…
Answer this question and get it marked →What is shown in a partnership appropriation account? A the capital contributed by each partner B the distribution of profit/loss among the partners C the partners' current…
Answer this question and get it marked →Rajid and Sunil formed a partnership on 1 January 2019 but did not prepare a partnership agreement. They provided the following information. Rajid Sunil --- --- --- capital…
Answer this question and get it marked →A company supplied the following information. $ --- --- issued and paid up share capital 300 000 general reserve 45 000 long-term bank loan 8 000 retained earnings 35 000 6%…
Answer this question and get it marked →Which apply to both debentures and preference shares? no voting rights fixed rate of return included in capital employed --- --- --- --- A yes yes yes B yes no yes C no yes no D…
Answer this question and get it marked →The AB Sports Club runs a café for the use of members. The treasurer prepared draft financial statements which showed a deficit of $700 and an accumulated fund of $4600. He then…
Answer this question and get it marked →Which accounting statement prepared by the treasurer of a sports club provides a summary of all the monies received and paid out during the financial year? A bank reconciliation…
Answer this question and get it marked →At the end of the financial year, a manufacturing business owed rent on its factory. The business adjusted its financial statements to account for this. What effects did this…
Answer this question and get it marked →What is a direct cost for a manufacturer? A carriage outwards B depreciation of delivery vehicle C factory supervisor's salary D production royalties
Answer this question and get it marked →A business uses 20% mark up to arrive at its selling prices. During the year it made purchases of $35 000 and the inventory decreased from $7000 to $2000. What was the revenue for…
Answer this question and get it marked →What is needed for the preparation of a statement of affairs? A a trial balance B an income statement C books of prime entry D values of assets and liabilities
Answer this question and get it marked →A trader provided the following information. $ --- --- cash purchases for the year 146 000 credit purchases for the year 108 000 trade payables at the year end 14 000 What was the…
Answer this question and get it marked →George provided the following information. $ --- --- non-current assets 15 000 inventory 12 000 trade receivables 18 000 trade payables 8 000 His liquid (acid test) ratio was 1.2…
Answer this question and get it marked →The following ratios have been calculated for a trader. year 1 year 2 --- --- --- profit margin 15% 20% return on capital employed (ROCE) 9% 6% What explains these changes? A…
Answer this question and get it marked →William is a trader. He has received an order from James to supply goods on credit. When should William regard the revenue as earned? A when William accepts the order from James B…
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