IGCSE · Cambridge 0452

Accounting 0452

1,440 practice questions with worked solutions, organised by topic and past-paper session. Practise any question and get your answer marked instantly.

Practise by topic

Sources and recording of dataBusiness documentsBooks of prime entryVerification of accounting recordsThe trial balanceCorrection of errorsBank reconciliationControl accountsAccounting proceduresCapital and revenue expenditure and receiptsAccounting for depreciation and disposal of non-current assetsOther payables and other receivablesIrrecoverable debts and provision for doubtful debtsValuation of inventoryPreparation of financial statementsSole tradersPartnershipsLimited companiesClubs and societiesManufacturing accountsIncomplete recordsAnalysis and interpretationCalculation and understanding of accounting ratiosInterpretation of accounting ratiosInter-firm comparisonInterested partiesLimitations of accounting statementsAccounting principles and policiesAccounting principlesAccounting policies

By past paper

Feb/March 2024Feb/March 2023Feb/March 2020

Example questions

Which duty would be performed by a book-keeper but not by an accountant?

Books of prime entry · Feb/March 2020

At the point when Mark set up a car repair business, he bought premises and equipment. Two years later, he paid $5000$ to construct an extension, $600$ for additional equipment and $750$ to repaint the original premises. By what amount will the non-current assets rise as a result of these transactions?

Capital and revenue expenditure and receipts · Feb/March 2020

A farmer disposed of a plot of land for its market value. How ought the money received from this sale to be recorded?

Accounting for depreciation and disposal of non-current assets · Feb/March 2020

Why does a trader need to account for depreciation of a non-current asset?

Accounting for depreciation and disposal of non-current assets · Feb/March 2020

An item of equipment costing $20000 was bought on 1 January 2019. Its estimated useful life is 5 years and its residual value is $3000. The straight-line method of depreciation was charged in the income statement for the year ended 31 December 2019. It was later discovered that the reducing balance method at 30% per annum ought to have been applied. What effect did this error have on the profit for the year ended 31 December 2019?

Accounting for depreciation and disposal of non-current assets · Feb/March 2020

A business supplied the information below about two expenses. Which amounts will be recorded in the income statement for the year ended 31 December 2019?

Capital and revenue expenditure and receipts · Feb/March 2020

Anjum lets part of her premises to Ajay at $6120 each year. At the start of the year, Ajay had already paid rent for two months in advance. By the end of the year, Ajay had paid rent for three months in advance. How much rent was received from Ajay during the year?

Other payables and other receivables · Feb/March 2020

A business keeps a provision for doubtful debts equal to 5% of trade receivables. The balance in the provision for doubtful debts account on 31 December 2018 was $2700. By 31 December 2019, trade receivables had risen to $50000. How is the provision for doubtful debts to be recorded on 31 December 2019?

Irrecoverable debts and provision for doubtful debts · Feb/March 2020

At the close of the financial year, Cindy recorded her inventory at cost. This figure wrongly included damaged goods with a cost of $300. Cindy thought that these goods would only be able to sell for $100. What effect will correcting the inventory valuation have?

Valuation of inventory · Feb/March 2020

On 31 January 2020, Hassan possessed the following assets. No liabilities existed on 31 January 2020. Which entries will appear in Hassan’s statement of financial position on 31 January 2020?

Sole traders · Feb/March 2020