Kramizo
Log inSign up free
Home › CIE IGCSE Accounting › Practice Paper
CIE · IGCSE · Accounting

Free CIE IGCSE Accounting
Practice Paper

8 mixed-difficulty practice questions in the style of real CIE IGCSE papers — answers, mark-scheme-style explanations, and the official exam structure all on one page.

Take a Mini Mock →

What the real CIE IGCSE Accounting paper looks like

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).
Grading: Grades: A* (highest) to G (lowest), with U (ungraded). Most universities require C or above.

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

Which item appears in the trading account section of a sole trader's income statement?

  1. Carriage inwards
  2. Carriage outwards
  3. Discount allowed
  4. Rent expense
Show answer & explanation
✓ Answer: A — Carriage inwards
Award 1 mark for identifying that carriage inwards is added to purchases in the trading account as it is a cost of getting goods to the business. B is incorrect — carriage outwards is a selling expense shown in the profit and loss section. C is incorrect — discount allowed is a finance expense in the profit and loss section. D is incorrect — rent expense is an overhead shown in the profit and loss section.
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?

  1. Credit note
  2. Receipt
  3. Purchase invoice
  4. 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 the main purpose of preparing a trial balance?

  1. To calculate the profit or loss for the period
  2. To check the arithmetical accuracy of the double entry records
  3. To show the financial position of the business
  4. To record all transactions for the accounting period
Show answer & explanation
✓ Answer: B — 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. A is incorrect — profit or loss is calculated in the income statement. C is incorrect — financial position is shown in the statement of financial position. D is incorrect — transactions are recorded in books of original entry and ledger accounts.
Q4 · Difficulty 2/3

Which of the following is a limitation of using ratio analysis to compare two different businesses?

  1. Ratios are always expressed as percentages
  2. Different businesses may use different accounting policies
  3. Ratios can only be calculated annually
  4. Ratio analysis does not use financial statements
Show answer & explanation
✓ Answer: B — Different businesses may use different accounting policies
Award 1 mark for identifying this limitation. Different depreciation methods or inventory valuation methods affect financial figures, making comparisons unreliable. A is incorrect — ratios can be expressed as percentages, times, or days. C is incorrect — ratios can be calculated at any time. D is incorrect — ratio analysis is based on financial statement data.
Q5 · Difficulty 2/3

Mwangi Ltd operates a retail business in Nairobi. The following information is available: Gross profit: $45,000 Revenue: $150,000 Net profit: $18,000 What is the gross profit margin?

  1. 12%
  2. 30%
  3. 40%
  4. 333%
Show answer & explanation
✓ Answer: B — 30%
Award 1 mark for correct calculation: ($45,000 ÷ $150,000) × 100 = 30%. A is incorrect — this is the net profit margin ($18,000 ÷ $150,000). C is incorrect — this confuses gross profit with net profit ratio. D is incorrect — this divides revenue by gross profit instead of the correct formula.
Q6 · 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?

  1. $3,400 credit
  2. $5,400 credit
  3. $8,400 credit
  4. $8,400 debit
Show answer & explanation
✓ Answer: C — $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. A is incorrect — omits interest on capital. B is incorrect — calculation error. D is incorrect — treats credits as debits.
Q7 · Difficulty 1/3

Which of the following transactions would be recorded in the general journal?

  1. Cash sales to a customer
  2. Credit purchase of goods for resale
  3. Correction of an error of commission
  4. Payment to a supplier by cheque
Show answer & explanation
✓ Answer: C — Correction of an error of commission
Award 1 mark for identifying that error corrections are recorded in the general journal. A is incorrect — cash sales are recorded in the cash book. B is incorrect — credit purchases of goods for resale are recorded in the purchases journal. D is incorrect — payments by cheque are recorded in the cash book (bank column).
Q8 · Difficulty 1/3

Which of the following items would be classified as a non-current asset in the balance sheet?

  1. Trade receivables
  2. Bank overdraft
  3. Motor vehicles
  4. Inventory
Show answer & explanation
✓ Answer: C — Motor vehicles
Award 1 mark for identifying that motor vehicles are held for long-term use in the business (more than one year). A is incorrect — trade receivables are current assets as they are expected to be converted to cash within 12 months. B is incorrect — bank overdraft is a current liability. D is incorrect — inventory is a current asset as it is held for resale within the normal operating cycle.
Build a 30-question timed mock →
Free · No signup · Instant marking

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.