Exam-style questions by topic — AQA A-Level Accounting
One verified question for each of 18 topics. These are written for this specification and checked by MasteryMind. They are not past-paper questions, and they are not from AQA.
An introduction to the role of the accountant in business
A business needs monthly departmental cost reports to control spending. Which purpose of accounting information does this primarily serve?
Practise An introduction to the role of the accountant in businessMarginal costing
A café employs one additional server for every 60 customers served per day, each paid £70 per day. On a day with 150 customers it employs three servers. If customer numbers rise to 185, what is the increase in total server cost for that day?
Practise Marginal costingStandard costing and variance analysis
A company's standard material cost is 3 kg at £4 per kg for each unit. It produces 200 units using 640 kg of material costing £2,432. What is the material total variance?
Practise Standard costing and variance analysisAbsorption and activity based costing
A factory has budgeted overheads of £90,000 and budgeted machine hours of 15,000. A product uses 3 machine hours per unit and has prime cost of £40 per unit. Using a machine-hour absorption rate and a 20% mark-up on total cost, what is the selling price per unit?
Practise Absorption and activity based costingCapital investment appraisal
A machine costs £40,000 and is expected to generate net cash inflows of £10,000 each year for six years. Using the payback method, what is the payback period?
Practise Capital investment appraisalAccounting for organisations with incomplete records
A sales ledger control account has an opening debit balance of £6,000. Credit sales are £15,000, receipts from customers are £13,500 and a bad debt of £700 is written off. What is the closing balance?
Practise Accounting for organisations with incomplete recordsPartnership accounts
A and B share profits equally. C is admitted and the new profit-sharing ratio is A 3 : B 2 : C 1. What is C's share of profits expressed as a fraction of the total?
Practise Partnership accountsAccounting for limited companies
A supplier is considering offering 60-day credit to a new limited company customer. Why would the supplier consult the customer's published accounts?
Practise Accounting for limited companiesInterpretation, analysis and communication of accounting information
A business tightens its credit checks and offers a 2% discount for early payment. Its receivables collection period falls from 70 days to 48 days. Which combination of effects is most likely?
Practise Interpretation, analysis and communication of accounting informationThe impact of ethical considerations
Which of these is an example of a safeguard against an ethical threat in an accountancy practice?
Practise The impact of ethical considerationsTypes of business organisation
A sole trader and a shareholder in a public limited company each invest money in their business. How does their liability for business debts differ?
Practise Types of business organisationThe double entry model
A business buys office equipment on credit from a supplier. Which book of prime entry is used to record this transaction?
Practise The double entry modelVerification of accounting records
A business has a suspense account with a £180 credit balance. It is then found that a purchase of goods on credit for £180 was entered in the purchases account only. Which journal entry corrects the error and clears the suspense account?
Practise Verification of accounting recordsAccounting concepts used in the preparation of accounting records
A business changes from straight-line to reducing-balance depreciation without explanation, making this year's figures hard to compare with last year's. Which concept has been breached?
Practise Accounting concepts used in the preparation of accounting recordsPreparation of financial statements of sole traders
Which of these would be included in the cost of sales of a business that buys and resells furniture?
Practise Preparation of financial statements of sole tradersLimited company accounts
A limited company has operating profit of £90,000 and finance costs of £10,000. It also has an ordinary dividend paid of £15,000. What is the profit before tax?
Practise Limited company accountsAnalysis and evaluation of financial information
A business holds average inventory of £40,000 and its cost of sales for the year is £320,000. Using a 365-day year, what is the rate of inventory turnover in days?
Practise Analysis and evaluation of financial informationBudgeting
A service company wants to ensure that different departments work towards the same organisational goals. Which need for budgeting does this illustrate?
Practise Budgeting
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