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Financial Statements: Partnership Accounts
Practice Questions

40 CIE IGCSE Accounting questions on Financial Statements: Partnership Accounts, each with instant feedback and a full examiner-style mark scheme.

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✨ Revision guide includes key terms, worked examples and exam technique for Financial Statements: Partnership Accounts.

Try 2 sample questions on Financial Statements: Partnership Accounts

Question 1 · 1 mark · Difficulty 1/3

Which of the following is an advantage of a partnership compared with a sole trader?

  1. More capital can be raised and the partners can bring different skills to the business
  2. The partners have limited liability
  3. Profits do not have to be shared
  4. Decisions can always be made by one person alone
Show answer & explanation
✓ Answer: A — More capital can be raised and the partners can bring different skills to the business
Award 1 mark. Workload and responsibility are also shared.
Question 2 · 1 mark · Difficulty 1/3

Which of the following is a disadvantage of trading as a partnership?

  1. Only one person can contribute capital
  2. Profits must be shared and disagreements between partners can delay decisions
  3. The business cannot employ staff
  4. No accounting records are required
Show answer & explanation
✓ Answer: B — Profits must be shared and disagreements between partners can delay decisions
Award 1 mark. Partners also remain jointly liable for the debts of the business.
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20 questions · 25 min · free

CIE IGCSE Accounting: Financial Statements: Partnership Accounts FAQ

Is Kramizo free for CIE IGCSE students preparing for Accounting?
Yes — completely free. Every student gets 45 questions a day on the free plan, with no card required and no trial countdown. That free quota works across every subject and every topic in our bank, so you can mix Financial Statements: Partnership Accounts practice with other Accounting topics or even switch to a totally different CIE subject without paying anything. Kramizo's optional Pro plan removes the daily cap and adds detailed progress analytics, but the free tier is the real product — used by thousands of GCSE, IGCSE and CSEC students.
Are the Financial Statements: Partnership Accounts questions aligned to the official CIE IGCSE Accounting syllabus?
Every question is written against the published CIE IGCSE Accounting specification, including the exact command words (state, describe, explain, calculate, evaluate, etc.), mark allocations, and difficulty tier you'd see on a real CIE paper. Explanations are written in the style of official examiner mark schemes — they tell you what is being awarded marks and why distractors are wrong, not just whether you got it right. The bank is continually refined to match the latest syllabus updates from CIE.
How is Financial Statements: Partnership Accounts typically tested on CIE IGCSE Accounting papers?
Financial Statements: Partnership Accounts appears across multiple question types on real CIE IGCSE Accounting papers — most commonly as multiple-choice questions in the objective section, structured short-answer questions in the main paper, and occasionally as part of an extended response. Kramizo's practice bank reflects that mix: 4-option MCQs, true/false statements, fill-in-the-blank key terms, multi-select questions, and ordering questions. Working through the bank gives you exposure to every question style examiners actually use.

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