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Financial Statements and Users of Accounting Information · CAPE Management of Business Unit 1

50 past-paper questions on Financial Statements and Users of Accounting Information, part of Module 3: Business Finance and Accounting, from every CAPE Management of Business Unit 1 paper on Quelpr.

Practise Financial Statements and Users of Accounting Information
  1. 14(a)1 mark· CAPE Management of Business Unit 1 · 2001 · Paper 1Explain what is meant by the cost concept.
  2. 14(b)1 mark· CAPE Management of Business Unit 1 · 2001 · Paper 1Explain what is meant by the prudence concept.
  3. 15(a)2 marks· CAPE Management of Business Unit 1 · 2001 · Paper 1Compute the Cost of Sales for the year.
  4. 15(b)1 mark· CAPE Management of Business Unit 1 · 2001 · Paper 1Compute the Gross Profit.
  5. 15(c)1 mark· CAPE Management of Business Unit 1 · 2001 · Paper 1What is the Net Profit for the year?
  6. 11(a)1 mark· CAPE Management of Business Unit 1 · 2002 · Paper 1Creditors
  7. 11(b)1 mark· CAPE Management of Business Unit 1 · 2002 · Paper 1Shareholders
  8. 12(a)1 mark· CAPE Management of Business Unit 1 · 2002 · Paper 1What was the net profit?
  9. 13(a)1 mark· CAPE Management of Business Unit 1 · 2002 · Paper 1Going concern cost
  10. 13(b)1 mark· CAPE Management of Business Unit 1 · 2002 · Paper 1Entity concept
  11. 13(c)1 mark· CAPE Management of Business Unit 1 · 2002 · Paper 1Straight-line depreciation
  12. 14(a)1 mark· CAPE Management of Business Unit 1 · 2005 · Paper 1Compute the amount of Provision for Doubtful Debt to be included in the Balance Sheet as at 30 June 2003.
  13. 14(b)2 marks· CAPE Management of Business Unit 1 · 2005 · Paper 1Write the journal entry to adjust the Provision for Doubtful Debt for the year.
  14. 12(b)2 marks· CAPE Management of Business Unit 1 · 2006 · Paper 1State one reason why creditors would be interested in reviewing a company's Balance Sheet.
  15. 13(a)2 marks· CAPE Management of Business Unit 1 · 2006 · Paper 1A company with a financial year ending September 30 is contracted to pay rent of 840 per month, and paid 9 660 for the year ending September 30, 2005. State whether the rent is accrued or prepaid and calculate the…
  16. 15(a)1 mark· CAPE Management of Business Unit 1 · 2006 · Paper 1Identify the accounting concept that was violated.
  17. 15(b)3 marks· CAPE Management of Business Unit 1 · 2006 · Paper 1Outline the correct accounting treatment Sonia should have followed and explain why.
  18. 6(a)10 marks· CAPE Management of Business Unit 1 · 2007 · Paper 2Construct a table which shows the value of the closing stock at the end of EACH month using the 'Last In First Out' (LIFO) method of accounting for stock.
  19. 6(b)5 marks· CAPE Management of Business Unit 1 · 2007 · Paper 2Compute the Cost of Goods Sold EACH month, for the six-month period.
  20. 6(c)10 marks· CAPE Management of Business Unit 1 · 2007 · Paper 2If the items are sold for $52 each, draw up a Trading Account for the six-month period ending June 30.
  21. 6(d)9 marks· CAPE Management of Business Unit 1 · 2008 · Paper 2Outline THREE differences between an Income Statement and a Balance Sheet.
  22. 6(a)5 marks· CAPE Management of Business Unit 1 · 2009 · Paper 2Identify the appropriate balance sheet sub-heading under which EACH of the five omitted items would be classified.
  23. 6(a)(i)3 marks· CAPE Management of Business Unit 1 · 2010 · Paper 2Explain what is meant by the term 'cash flow statement'.
  24. 6(a)(ii)2 marks· CAPE Management of Business Unit 1 · 2010 · Paper 2Identify TWO financial statements, other than the cash flow statement, that are used by firms.
  25. 6(b)(i)4 marks· CAPE Management of Business Unit 1 · 2010 · Paper 2Analyse the cash flow situation of Nigel Enterprises under: Net cash inflow or outflow from operating activities.
  26. 6(b)(ii)4 marks· CAPE Management of Business Unit 1 · 2010 · Paper 2Analyse the cash flow situation of Nigel Enterprises under: Returns on investment and servicing of finance.
  27. 6(b)(iii)4 marks· CAPE Management of Business Unit 1 · 2010 · Paper 2Analyse the cash flow situation of Nigel Enterprises under: Net cash outflow from investing activities.
  28. 6(b)(iv)4 marks· CAPE Management of Business Unit 1 · 2010 · Paper 2Analyse the cash flow situation of Nigel Enterprises under: Increase or decrease in cash equivalents.
  29. 6(b)(v)4 marks· CAPE Management of Business Unit 1 · 2010 · Paper 2Analyse the cash flow situation of Nigel Enterprises under: Financing.
  30. 6(a)(i)2 marks· CAPE Management of Business Unit 1 · 2011 · Paper 2State ONE way in which the final accounts of a business serve as a major source of information for Investors.
  31. 6(a)(ii)2 marks· CAPE Management of Business Unit 1 · 2011 · Paper 2State ONE way in which the final accounts of a business serve as a major source of information for Suppliers.
  32. 6(a)(iii)2 marks· CAPE Management of Business Unit 1 · 2011 · Paper 2State ONE way in which the final accounts of a business serve as a major source of information for Government.
  33. 6(a)(iv)2 marks· CAPE Management of Business Unit 1 · 2011 · Paper 2State ONE way in which the final accounts of a business serve as a major source of information for Business Managers.
  34. 6(b)(i)2 marks· CAPE Management of Business Unit 1 · 2011 · Paper 2Outline to John the meaning of the term 'cash flow statement'.
  35. 6(b)(ii)4 marks· CAPE Management of Business Unit 1 · 2011 · Paper 2Outline to John TWO advantages of a cash flow statement to his business.
  36. 6(c)11 marks· CAPE Management of Business Unit 1 · 2011 · Paper 2Construct the Trading and Profit and Loss Account for John's Chemicals & Supplies for the period ended May 31, 2010.
  37. 6(b)4 marks· CAPE Management of Business Unit 1 · 2012 · Paper 2Distinguish between a 'cash flow statement' and a 'funds flow statement'.
  38. 6(c)(i)3 marks· CAPE Management of Business Unit 1 · 2012 · Paper 2Identify THREE methods that a firm could employ to improve its cash flow position.
  39. 6(c)(ii)12 marks· CAPE Management of Business Unit 1 · 2012 · Paper 2Outline ONE advantage and ONE disadvantage of EACH method identified in (c)(i).
  40. 6(a)(i)2 marks· CAPE Management of Business Unit 1 · 2016 · Paper 2Define the term 'cash flow statement'.
  41. 6(a)(ii)4 marks· CAPE Management of Business Unit 1 · 2016 · Paper 2Outline TWO advantages of a cash flow statement to the operations of Bill's business.
  42. 3(a)(i)2 marks· CAPE Management of Business Unit 1 · 2017 · Paper 2Define the term 'current assets'.
  43. 3(c)15 marks· CAPE Management of Business Unit 1 · 2017 · Paper 2Use the provided information to prepare a corrected balance sheet for Beautiful Flowers as at December 31, 2016.
  44. 3(c)(ii)6 marks· CAPE Management of Business Unit 1 · 2019 · Paper 2Construct the balance sheet for Country Farmhouse Soy Products for January to December 2018 using the supplied accounting data, showing the figure for net current assets.
  45. 3(a)(i)2 marks· CAPE Management of Business Unit 1 · 2021 · Paper 2Define the term 'Fixed asset'.
  46. 3(a)(ii)2 marks· CAPE Management of Business Unit 1 · 2021 · Paper 2Define the term 'Owner's equity'.
  47. 3(b)(i)3 marks· CAPE Management of Business Unit 1 · 2021 · Paper 2Other than complying with government regulations, explain ONE reason why the Greenleafs should prepare an Income statement.
  48. 3(b)(ii)3 marks· CAPE Management of Business Unit 1 · 2021 · Paper 2Other than complying with government regulations, explain ONE reason why the Greenleafs should prepare a Statement of financial position/balance sheet.
  49. 3(b)(iii)3 marks· CAPE Management of Business Unit 1 · 2021 · Paper 2Other than complying with government regulations, explain ONE reason why the Greenleafs should prepare a Statement of cash flow.
  50. 3(c)12 marks· CAPE Management of Business Unit 1 · 2021 · Paper 2Use the provided financial balances and additional information to prepare a Statement of Comprehensive Income for Caribbean Eatery for the year ended 31 December 2020.

Related topics in Module 3: Business Finance and Accounting