Subsection 1.2. The accounting system for Accounting, A Level - revisedeck

1.2. The accounting system

A subsection of Accounting, 9706, through 1. Financial accounting (AS Level)

Listing 10 of 134 questions

Businesses anticipate losses but not profits in preparing their annual accounts. Which accounting concept is being applied here?

9706_s05_qp_1

MCQ

2005

Paper 1, Variant 0

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An item of stock originally cost $5000, but has deteriorated badly and is written down to its estimated net realisable value of $2000. Which accounting principle has been applied?

9706_s07_qp_1

MCQ

2007

Paper 1, Variant 0

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A trial balance at 31 December shows: debit $ credit $ trade receivables control account 48 500 2 900 trade payables control account 3 600 34 800 It is then found that an invoice, $900, issued to a debtor on 27 December, has not been entered in the accounting records. What is the correct figure for trade receivables in the balance sheet at 31 December?

9706_s10_qp_11

MCQ

2010

Paper 1, Variant 1

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A trial balance at 31 December shows: debit $ credit $ trade receivables control account 48 500 2 900 trade payables control account 3 600 34 800 It is then found that an invoice, $900, issued to a debtor on 27 December, has not been entered in the accounting records. What is the correct figure for trade receivables in the balance sheet at 31 December?

9706_s10_qp_12

MCQ

2010

Paper 1, Variant 2

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Accountants prefer the commercial reality of a transaction to a strictly legal approach. Which accounting principle is being applied?

9706_s11_qp_11

MCQ

2011

Paper 1, Variant 1

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Accountants prefer the commercial reality of a transaction to a strictly legal approach. Which accounting principle is being applied?

9706_s11_qp_12

MCQ

2011

Paper 1, Variant 2

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Accountants prefer the commercial reality of a transaction to a strictly legal approach. Which accounting principle is being applied?

9706_s11_qp_13

MCQ

2011

Paper 1, Variant 3

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At the start of the year a business had the opening trade payables of $13 000. At the end of the year it owed $15 000 to trade payables. During the year it paid them $190 000, after taking a cash discount of $10 000. What was the amount of the credit purchases for the year?

9706_s13_qp_11

MCQ

2013

Paper 1, Variant 1

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At the financial year end of a business the following information is available. $ debit balance on the bank statement unpresented cheques lodgements not yet credited by the bank bank charges and interest charged not yet entered in the cash book What is the current balance in the cash book?

9706_s13_qp_12

MCQ

2013

Paper 1, Variant 2

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Which business would use a job costing system of accounting?

9706_s13_qp_12

MCQ

2013

Paper 1, Variant 2

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Questions Discovered

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