ACCOUNTING Paper 1 Multiple Choice with Marking Scheme Merged
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Course
ACCOUNTING 0985 Paper 1
Institution
ACCOUNTING 0985 Paper 1
1 Which task would be carried out by a book-keeper?
A comparison of financial statements between years
B preparation of financial statements
C provision of information for decision-making
D recording financial transactions
2 What is the accounting equation?
A assets = capital – liabil...
ACCOUNTING Paper 1 Multiple Choice with Marking Scheme Merged 0985/11
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.
• Any rough working should be done on this question paper.
This document has 12 pages. Any blank pages are indicated.
1 Which task would be carried out by a book-keeper?
A comparison of financial statements between years
B preparation of financial statements
C provision of information for decision-making
D recording financial transactions
2 What is the accounting equation?
A assets = capital – liabilities
B assets = liabilities – capital
C assets – liabilities = capital
D assets + capital = liabilities
3 Sarah sold goods on credit to Zafar.
How was this recorded in Sarah’s ledgers?
general ledger sales ledger
A credit sales account debit Zafar account
B debit sales account credit Zafar account
C credit Zafar account debit sales account
D debit Zafar account credit sales account
4 Omar sent a credit note to Miriam for goods returned.
How would Miriam record this transaction?
account to be debited account to be credited
A purchases returns Omar
B sales returns Miriam
C Omar purchases returns
D Miriam sales returns
5 The discount column on the debit side of a trader’s cash book totalled $1300 and the discount
column on the credit side totalled $700.
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