Description
| Book Code : | 101 |
|---|---|
| Subject Code : | 7707/0452 |
| Author : | M. Nauman Malik |
| Updated Till : | March 2024 |
| Publishers : | Read and Write Publications |
Description
101 Accounting O Level MCQ’S Paper 1
Cambridge University has adopted MCQs as a part of O Level Accounting 7110 Examinations since 2000. Now almost 33.3% of weightage is allocated to MCQs.
Each topic of the syllabus has been covered in a separate chapter containing MCQs from the past papers. All the MCQs in this Book have been compiled according to the May June or October November year in which they were set in the O Level Cambridge examinations updated till 2020.
For the better understanding of the questions detailed answers are also given at the end of each chapter. CAIE Students will find “Student Evaluation Card” quite useful. This will enable them to compare their performances and focus on the weaker areas.
The correct answers to the Questions are given in the answer key at the end of each chapter.
In the current edition Financial statements of sole traders has been subdivided into four topics so that students may focus on each sub topic independently.
Now you can place order for this book in both paperback and ebook format. ebooks are for online reading and these are not pdf files to download. The purchaser is granted a single, nontransferable license for his or her personal use of the E-book on digital media for the period of one year from the date of purchase.
The purchaser is not authorized to grant access to the E-book, in whole or in part, to any third party, in particular, to sublicense, to transfer, to timeshare, or to rent out the E-book.
Making the E-book available on the Internet or in other networks, reselling the E-book, and/or any use for commercial purposes is not permitted
101 Accounting O Level MCQ’S Paper 1
- All Variants
- Solved with explanation of all choices A,B,C & D
- Questions order from new to old
- Each Chapter has been classified into sub topics
TABLE OF CONTENTS
CHAPTER 1 ACCOUNTING BASICS
1.1: BASIC ACCOUNTING & ACCOUNTING EQUATIONS
1.2: JOURNAL ENTRIES
1.3: LEDGER ACCOUNTS
1.4: BOOK KEEPING & ACCOUNTING
1.5: THEORY
ANSWER SECTION
CHAPTER 2 BOOKS OF ORIGINAL ENTRY
2.1: PURCHASES JOURNAL
2.2: SALES JOURNAL
2.3: RETURN OUTWARDS JOURNAL
2.4: RETURN INWARDS JOURNAL
2.5: GENERAL JOURNAL
2.6: PURCHASES LEDGER
2.7: SALES LEDGER
2.8: OTHER SOURCE DOCUMENTS
2.9: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 3 CASH BOOK AND DISCOUNTS
3.1: TRADE DISCOUNT
3.2: CASH DISCOUNT
3.3: CALCULATION OF AMOUNTS NET OF DISCOUNTS
3.4: DOUBLE ENTRY IN CASH BOOK
3.5: CALCULATION OF CASH BOOK BALANCES
3.6: PETTY CASH BOOK
3.7: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 4 BANK RECONCILIATION STATEMENTS
4.1: UPDATED CASHBOOK
4.2: BANK RECONCILIATION STATEMENTS
4.3: CALCULATION OF OTHER MISSING ITEMS
4.4: THEORY
4.5: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 5 IRRECOVERABLE DEBTS & PROVISION FOR DOUBTFUL DEBTS
5.1: IRRECOVERABLE DEBTS
5.2: PROVISION FOR DOUBTFUL DEBTS
5.3: IRRECOVERABLE & DOUBTFUL DEBTS
5.4: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 6 ACCOUNTING FOR NON-CURRENT ASSETS
6.1: THEORY
6.2: STRAIGHT LINE METHOD
6.3: REDUCING BALANCE METHOD
6.4: REVALUATION METHOD
6.5: DEPRECIATION METHODS COMBINED
6.6: DISPOSAL OF ASSETS
6.7: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 7 TRIAL BALANCE
ANSWER SECTION
CHAPTER 8 INCOME STATEMENTS OF SOLE TRADERS
8.1: TRADING SECTION OF INCOME STATEMENTS
8.2: PROFIT AND LOSS SECTION OF INCOME STATEMENT
8.3: INCOME STATEMENT OF SERVICE BUSINESSES
8.4: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 9 SOLE TRADERS’ STATEMENTS OF FINANCIAL POSITION
9.1: CURRENT ASSETS & CURRENT LIABILITIES
9.2: WORKING CAPITAL
9.3: INVENTORY VALUATION
9.4: NON-CURRENT ASSETS & LIABILITIES
9.5: CAPITAL & CAPITAL EMPLOYED
9.6: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 10 ADJUSTMENTS IN FINANCIAL STATEMENTS
10.1: PREPAID & ACCRUED EXPENSES
10.2: PRE-RECEIVED & ACCRUED INCOMES
10.3: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 11 ACCOUNTING CONCEPTS
11.1: ENTITY & DUALITY
11.2: PRUDENCE & MONEY MEASUREMENT
11.3: MATCHING, ACCRUAL & REALISATION
11.4: MATERIALITY & CONSISTENCY
11.5: GOING CONCERN & COST
11.6: INTERNATIONAL ACCOUNTING STANDARDS
11.7: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 12 CAPITAL AND REVENUE
12.1: CAPITAL EXPENDITURE
12.2: REVENUE EXPENDITURE
12.3: CAPITAL & REVENUE RECEIPTS
12.4: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 13 ERRORS NOT AFFECTING AGREEMENT OF TRIAL BALANCE
13.1: JOURNAL ENTRIES TO CORRECT MISTAKES
13.2: CORRECTION OF PROFITS
13.3: EFFECTS OF ERRORS ON PROFITS
13.4: TYPES OF ERRORS
13.5: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 14 ERRORS AFFECTING AGREEMENT OF TRIAL BALANCE
14.1: JOURNAL ENTRIES TO CORRECT THE MISTAKES
14.2: MISTAKES IN TRAIL BALANCE
14.3: SUSPENSE ACCOUNT
14.4: CORRECTION OF PROFITS
14.5: EFFECTS OF ERRORS ON PROFITS
ANSWERS SECTION
CHAPTER 15 CONTROL ACCOUNTS
15.1: SALES LEDGER CONTROL ACCOUNTS
15.2: PURCHASE LEDGER CONTROL ACCOUNTS
15.3: THEORY
15.4: MULTIPLE TOPICS
ANSWERS SECTIONS
CHAPTER 16 ACCOUNTS FROM INCOMPLETE RECORDS
16.1: CALCULATION OF SALES
16.2: CALCULATION OF PURCHASES
16.3: MARKUP & MARGIN
16.4: CALCULATION OF PROFITS THROUGH BALANCE SHEET
16.5: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 17 ACCOUNTS OF NON-PROFIT ORGANISATIONS
17.1: RECEIPTS & PAYMENTS ACCOUNTS
17.2: CALCULATIONS OF SUBSCRIPTION
17.3: INCOME & EXPENDITURE ACCOUNTS
17.4: STATEMENTS OF FINANCIAL POSITION
17.5: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 18 MANUFACTURING ACCOUNTS
18.1: PRIME COST
18.2: FACTORY OVERHEADS
18.3: COST OF PRODUCTION
18.4: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 19 PARTNERSHIP ACCOUNTS
19.1: APPROPRIATION ACCOUNT
19.2: PARTNERS’ CURRENT CAPITAL ACCOUNTS
19.3: JOURNAL ENTRIES IN PARTNERSHIP
19.4: PARTNERSHIP AGREEMENT
19.5: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 20 COMPANY ACCOUNTS
20.1: ORDINARY SHARES
20.2: PREFERENCE SHARES & DEBENTURES
20.3: CALCULATION OF DIVIDENDS & RETAINED PROFITS
20.4: STATEMENT OF CHANGES IN EQUITY
20.5: STATEMENT OF FINANCIAL POSITION
20.6: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 21 RATIO ANALYSIS
21.1: GROSS PROFIT MARGIN
21.2: PROFIT MARGIN & ROCE
21.3: WORKING CAPITAL & CURRENT RATIO
21.4: LIQUID RATIO
21.5: INVENTORY TURNOVER RATIO
21.6: TRADE RECEIVABLE & PAYABLE TURNOVER
21.7: MULTIPLE TOPICS
ANSWERS SECTIONS
Estimate shipping
Refund Policy
We have a 30-day return policy, which means you have 30 days after receiving your item to request a return.
To be eligible for a return, your item must be in the same condition that you received it, unworn or unused, with tags, and in its original packaging. You’ll also need the receipt or proof of purchase.
To start a return, you can contact us at induspublishinghouse@gmail.com. Please note that returns will need to be sent to the following address: [INSERT RETURN ADDRESS]
If your return is accepted, we’ll send you a return shipping label, as well as instructions on how and where to send your package. Items sent back to us without first requesting a return will not be accepted.
You can always contact us for any return question at induspublishinghouse@gmail.com.
Damages and issues
Please inspect your order upon reception and contact us immediately if the item is defective, damaged or if you receive the wrong item, so that we can evaluate the issue and make it right.
Exceptions / non-returnable items
Certain types of items cannot be returned, like perishable goods (such as food, flowers, or plants), custom products (such as special orders or personalized items), and personal care goods (such as beauty products). We also do not accept returns for hazardous materials, flammable liquids, or gases. Please get in touch if you have questions or concerns about your specific item.
Unfortunately, we cannot accept returns on sale items or gift cards.
Exchanges
The fastest way to ensure you get what you want is to return the item you have, and once the return is accepted, make a separate purchase for the new item.
European Union 14 day cooling off period
Notwithstanding the above, if the merchandise is being shipped into the European Union, you have the right to cancel or return your order within 14 days, for any reason and without a justification. As above, your item must be in the same condition that you received it, unworn or unused, with tags, and in its original packaging. You’ll also need the receipt or proof of purchase.
Refunds
We will notify you once we’ve received and inspected your return, and let you know if the refund was approved or not. If approved, you’ll be automatically refunded on your original payment method within 10 business days. Please remember it can take some time for your bank or credit card company to process and post the refund too.
If more than 15 business days have passed since we’ve approved your return, please contact us at induspublishinghouse@gmail.com.