Cambridge College

1 Why does a trader calculate the profit of his business? A to calculate the interest payable on a loan B to calculate the provision for doubtful debts C to know the total expenses of the business D to know whether drawings are at a reasonable level 2 Hassan is a trader. During the financial year he took goods from the business for his own use. How should he record this? debit credit A drawings inventory B drawings purchases C income statement inventory ...

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...

This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award marks. It does not indicate the details of the discussions that took place at an Examiners’ meeting before marking began, which would have considered the acceptability of alternative answers. Mark schemes should be read in conjunction with the question paper and the Principal Examiner Report for Teachers. C...

1 Leo maintains a petty cash book using the imprest system. The imprest amount, which is $200, is restored on the first day of each month. All payments of less than $100 are made from petty cash. All cash receipts of less than $100 are paid into petty cash. On 1 April 2021 Leo had $48 in his petty cash box. Leo provided the following information for April 2021. April 1 Restored petty cash imprest from the business bank account 5 Paid for office cleaning, $21 7 Paid for ...

Rahat is concerned about the level of her bank overdraft. She is considering applying for a bank loan. This would enable her to pay off her bank overdraft and to purchase new office furniture. REQUIRED (c) Advise Rahat whether she should apply for the bank loan. Justify your answer by providing two advantages and two disadvantages. ................................................................................................................................................... ............

Paper 1 Multiple Choice May/June 2021 You must answer on the multiple choice answer sheet. 1 hour 15 minutes 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 multip...

This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award marks. It does not indicate the details of the discussions that took place at an Examiners’ meeting before marking began, which would have considered the acceptability of alternative answers. Mark schemes should be read in conjunction with the question paper and the Principal Examiner Report for Teachers. C...

You must answer on the multiple choice answer sheet. 1 hour 15 minutes 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 instructi...

Candidates should be familiar with all the topics on the syllabus and have a thorough understanding of accounting. It is important that candidates read each question very carefully to ensure that they have a clear understanding of what is required before selecting an option on the answer sheet. General comments Those candidates who possessed a good understanding of double entry bookkeeping and the financial statements of various types of organisations were able to select the co...

● Answer all questions. ● Use a black or dark blue pen. You may use an HB pencil for any diagrams or graphs. ● Write your name, centre number and candidate number in the boxes at the top of the page. ● Write your answer to each question in the space provided. ● Do not use an erasable pen or correction fluid. ● Do not write on any bar codes. ● You may use a calculator. ● International accounting terms and formats should be used as appropriate. ● You should show your work...