Edexcel A level Principles of Accounting -
ATT - CBE 2024 Exam Questions and
Answers
Income received in advance (deferred income) does what to the
profit for the year? - Answer>>decreases it
A prepayment will do what to the profit for the year? -
Answer>>increases it
Development expenditure will always be capitalised in the
accounts - Answer>>false
Research expenditure will never be capitalise in the accounts -
Answer>>true
A capital grant should be recognised when the asset it is
subsidising is purchased under the accrual model -
Answer>>false
A capital grant should initially be recognised as deferred income
under the accrual model - Answer>>true
An increase in closing stock will do what to the gross profit and
net assets of a business? - Answer>>increase it
When is the 'going concern' of a company assessed from? -
Answer>>12 months from the date of the accounts
A provision should be recognised when an outflow of economic
benefits is possible - Answer>>true
a contingent liability is only ever disclosed, never recognised -
Answer>>false
, a contingent asset should be recognised when an inflow of
economic benefit is probable - Answer>>false
a contingent liability is not disclosed if there is only a remote
chance that it will lead to outflow of economic benefit -
Answer>>true
Does Share capital appear in a company's financial statements,
sole trader's account or either - Answer>>company
Does accrued interest appear in a company's financial
statements, sole trader's account or either - Answer>>either
overprovision for corporation tax in the previous period goes on
which side of the Corporation tax creditor T account? -
Answer>>debit
Corporation tax paid goes on which side of the Corporation Tax
creditor T account? - Answer>>Debit
Corporation tax charge for the current period goes on which side
of the Corporation Tax creditor T account? - Answer>>Credit
Companies withhold basic rate income tax when making which
payments to individuals? - Answer>>Interest and royalties
Net Cash from Operating activities - Depreciation is ... -
Answer>>added back
Net Cash from Operating activities - Increase in debtors is... -
Answer>>deducted
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller RevisionKing. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £12.24. You're not tied to anything after your purchase.
