Mini practice paper: 8 questions
Mixed-difficulty questions from across the Accounting syllabus. Tap "Show answer" after each to check yourself.
Q1 · Difficulty 1/3
What is the main purpose of preparing a trial balance?
- To check the arithmetical accuracy of the double entry records
- To show the financial position of the business
- To record all transactions for the accounting period
- To calculate the profit or loss for the period
Show answer & explanation
✓ Answer: A — To check the arithmetical accuracy of the double entry records
Award 1 mark for identifying that the trial balance checks arithmetical accuracy of double entry records. D is incorrect — profit or loss is calculated in the income statement. B is incorrect — financial position is shown in the statement of financial position. C is incorrect — transactions are recorded in books of original entry and ledger accounts.
Q2 · Difficulty 1/3
Kwame runs a trading business in Accra. He received an invoice from his supplier showing goods purchased on credit for $2,500. Which source document should Kwame use to record this transaction in his books?
- Credit note
- Receipt
- Purchase invoice
- Cheque counterfoil
Show answer & explanation
✓ Answer: C — Purchase invoice
Award 1 mark for purchase invoice as the source document for credit purchases. A is incorrect — a credit note is issued when goods are returned. B is incorrect — a receipt is evidence of cash payment. D is incorrect — a cheque counterfoil records cheque payments made.
Q3 · Difficulty 1/3
What is depreciation?
- The allocation of the cost of a non-current asset over its useful life
- The amount paid to purchase a non-current asset
- The market value of a non-current asset at the end of each year
- The increase in value of a non-current asset over time
Show answer & explanation
✓ Answer: A — The allocation of the cost of a non-current asset over its useful life
Award 1 mark for identifying depreciation as the allocation of cost over useful life. D is incorrect — depreciation reflects a decrease, not increase, in book value. B is incorrect — this describes the cost of the asset, not depreciation. C is incorrect — depreciation is based on cost allocation, not market value.
Q4 · Difficulty 2/3
Kwame runs a retail business in Accra. His financial records show the following for the year ended 31 December 2024:
Opening inventory: $12,400
Purchases: $86,500
Closing inventory: $14,200
Carriage inwards: $1,800
What is the cost of sales?
- $88,300
- $100,700
- $84,700
- $86,500
Show answer & explanation
✓ Answer: D — $86,500
Award 1 mark for correct calculation: Opening inventory ($12,400) + Purchases ($86,500) + Carriage inwards ($1,800) − Closing inventory ($14,200) = $86,500. C is incorrect — this omits carriage inwards. A is incorrect — this adds closing inventory instead of deducting it. B is incorrect — this adds both opening and closing inventory to purchases.
Q5 · Difficulty 2/3
Kwame, a trader in Accra, extracted a trial balance on 31 December 2024. The total of the debit column was $45,780 and the total of the credit column was $44,980. Which account should be opened to record this difference?
- Capital account
- Suspense account
- Bank account
- Drawings account
Show answer & explanation
✓ Answer: B — Suspense account
Award 1 mark for suspense account. When the trial balance does not balance, a suspense account is opened to record the difference ($800) so that financial statements can be prepared while errors are investigated. A is incorrect — capital is not used for balancing differences. C and D are incorrect — these are regular ledger accounts, not used for temporary differences.
Q6 · Difficulty 2/3
Fatima operates a wholesale business in Dubai. She discovered that a credit balance of $560 in the purchases ledger had been listed as a debit balance when extracting the list of balances. By how much would the total of the list of purchases ledger balances differ from the purchases ledger control account balance?
- $560
- $1,120
- $280
- The totals would agree
Show answer & explanation
✓ Answer: B — $1,120
Award 1 mark for correct calculation. A credit balance of $560 listed as debit means the list is understated by $560 (should be credit) and overstated by $560 (wrongly shown as debit), giving a total difference of $1,120 ($560 × 2). A is incorrect — only considers one effect. C is incorrect — halves the difference incorrectly. D is incorrect — there is a difference due to the error.
Q7 · Difficulty 2/3
Lena and Maria are partners using the fixed capital method. On 1 January 2024, Lena's current account had a credit balance of $2,400. During the year, Lena's share of profit was $18,000, her drawings were $15,000, and interest on capital was $3,000. What is the balance on Lena's current account at 31 December 2024?
- $8,400 credit
- $8,400 debit
- $3,400 credit
- $5,400 credit
Show answer & explanation
✓ Answer: A — $8,400 credit
Award 1 mark for correct calculation. Opening balance $2,400 Cr + Share of profit $18,000 + Interest on capital $3,000 − Drawings $15,000 = $8,400 Cr. C is incorrect — omits interest on capital. D is incorrect — calculation error. B is incorrect — treats credits as debits.
Q8 · Difficulty 2/3
Chen Wei, a trader in Singapore, prepared a trial balance on 30 June 2024. Which of the following items would appear on the CREDIT side of the trial balance?
- Trade receivables $12,400
- Carriage inwards $560
- Provision for depreciation of motor vehicles $3,200
- Prepaid rent $800
Show answer & explanation
✓ Answer: C — Provision for depreciation of motor vehicles $3,200
Award 1 mark for provision for depreciation. Provision for depreciation is a credit balance as it reduces the value of non-current assets. A is incorrect — trade receivables is an asset (debit balance). B is incorrect — carriage inwards is an expense (debit balance). D is incorrect — prepaid rent is a current asset (debit balance).
CIE IGCSE Accounting FAQ
What does the CIE IGCSE Accounting exam look like?
The CIE IGCSE Accounting exam is structured across 3 components. Paper 1 (Multiple Choice): 40 multiple-choice questions, 1 mark each. 45 minutes. Tests breadth of knowledge. Paper 2 (Core) / Paper 4 (Extended): Structured written paper. 1 hour 30 minutes (Core) or 1 hour 45 minutes (Extended). Tests depth of understanding and application. Paper 6 (Alternative to Practical): Written paper assessing practical skills for candidates without lab access. 1 hour. Worth ~20% of the total. Total exam time: ~3 hours, depending on tier (Core vs Extended).
Can I download a free CIE IGCSE Accounting past paper?
Real CIE past papers are published directly by CIE on their official website. Kramizo doesn't redistribute copyrighted past papers, but we do generate free AI-written practice papers in the exact same style — same command words, same difficulty tier, same mark conventions. Use this practice paper as warm-up, then time yourself on official past papers before exam day.
How is CIE IGCSE Accounting graded?
Grades: A* (highest) to G (lowest), with U (ungraded). Most universities require C or above. Kramizo's practice questions are tagged with difficulty 1-3 mapping roughly to the lower, middle, and top grade boundaries you'll encounter in the real exam.