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HomePearson Edexcel International IGCSE AccountingFinancial Statements: Sole Traders
Pearson Edexcel International · IGCSE · Accounting

Financial Statements: Sole Traders
Practice Questions

8 Pearson Edexcel International IGCSE Accounting questions on Financial Statements: Sole Traders, 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: Sole Traders.

Try 2 sample questions on Financial Statements: Sole Traders

Question 1 · 1 mark · Difficulty 2/3

The statement showing profit or loss over a period is the ____ account.

  1. income statement (profit and loss)
  2. balance sheet only
  3. trial balance
  4. cash book
Show answer & explanation
✓ Answer: Aincome statement (profit and loss)
The income statement shows profit or loss.
Question 2 · 1 mark · Difficulty 3/3

The statement showing assets, liabilities and capital at a date is the:

  1. income statement
  2. day book
  3. trial balance
  4. statement of financial position (balance sheet)
Show answer & explanation
✓ Answer: Dstatement of financial position (balance sheet)
The balance sheet shows financial position.
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Pearson Edexcel International IGCSE Accounting: Financial Statements: Sole Traders FAQ

How many Pearson Edexcel International IGCSE Accounting questions on Financial Statements: Sole Traders are there on Kramizo?
Kramizo currently has 8 exam-board-aligned practice questions on Financial Statements: Sole Traders for Pearson Edexcel International IGCSE Accounting, with new questions added every week. Each question gives you instant feedback and a full examiner-style mark scheme that tells you exactly what would earn marks on a real Pearson Edexcel International paper. The questions span the full difficulty range — from straightforward recall (level 1) right up to multi-step reasoning and evaluation (level 3) — so the bank works for first-pass revision and final exam-week stress testing alike.
Is Kramizo free for Pearson Edexcel International 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: Sole Traders practice with other Accounting topics or even switch to a totally different Pearson Edexcel International 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: Sole Traders questions aligned to the official Pearson Edexcel International IGCSE Accounting syllabus?
Every question is written against the published Pearson Edexcel International 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 Pearson Edexcel International 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 Pearson Edexcel International.
How is Financial Statements: Sole Traders typically tested on Pearson Edexcel International IGCSE Accounting papers?
Financial Statements: Sole Traders appears across multiple question types on real Pearson Edexcel International 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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