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ACCOUNTING Paper 1 Multiple Choice with Merged Marking Scheme You must answer on the multiple choice answer sheet. You will need: Multiple choice answer sheet Soft clean eraser Soft pencil (type B or HB is recommended) 0985/12 $7.99
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ACCOUNTING Paper 1 Multiple Choice with Merged Marking Scheme You must answer on the multiple choice answer sheet. You will need: Multiple choice answer sheet Soft clean eraser Soft pencil (type B or HB is recommended) 0985/12
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Course
ACCOUNTING 0985
Institution
ACCOUNTING 0985
1 Which are examples of book-keeping?
2
1 entering details of a cheque received from a customer in a cash book
2 entering details of goods purchased on credit in a purchases journal
3 producing an income statement to calculate the profit for the year
4 recording details of credit sales in...
ACCOUNTING Paper 1 Multiple Choice with Merged Marking Scheme 0985/12
May/June 2023
1 hour 15 minutes
You must answer on the multiple choice answer sheet.
You will need: Multiple choice answer sheet
Soft clean eraser
Soft pencil (type B or HB is recommended)
INSTRUCTIONS
• There are thirty-five questions on this paper. Answer all questions.
• For each question there are four possible answers A, B, C and D. Choose the one you consider correct
and record your choice in soft pencil on the multiple choice answer sheet.
• Follow the instructions on the multiple choice answer sheet.
• Write in soft pencil.
• Write your name, centre number and candidate number on the multiple choice answer sheet in the
spaces provided unless this has been done for you.
• Do not use correction fluid.
• Do not write on any bar codes.
• You may use a calculator.
INFORMATION
• The total mark for this paper is 35.
• Each correct answer will score one mark. A mark will not be deducted for a wrong answer.
• Any rough working should be done on this question paper.
This document has 12 pages. Blank pages are indicated.
1 entering details of a cheque received from a customer in a cash book
2 entering details of goods purchased on credit in a purchases journal
3 producing an income statement to calculate the profit for the year
4 recording details of credit sales in the account of a credit customer
A 1, 2 and 3 B 1, 2 and 4 C 1 and 2 only D 3 and 4
2 How does a trader use the information provided by financial statements?
A to calculate the amount of cash drawings taken
B to calculate the amount that is owed by trade receivables
C to check the balance shown on a bank statement
D to compare the business performance over a number of years
3 A trader bought new fixtures. He paid half of the purchase price in cash and agreed to pay the
balance in two months' time.
How does this purchase affect the accounting equation?
owner's
assets liabilities
equity
A decrease decrease no effect
B decrease no effect increase
C increase decrease increase
D increase no effect increase
4 On 2 April Nina received a cheque from Zaffar, a credit customer. On 12 April the cheque was
returned unpaid by the bank.
What entry would Nina make on 12 April?
account to be debited account to be credited
A irrecoverable debts bank
B irrecoverable debts Zaffar
C provision for doubtful debts Zaffar
D Zaffar bank
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