# 111 Accounting AS-Level MCQ's Paper-1 Topical Worked Solutions

## 111 Accounting AS-Level MCQ's Paper-1 Topical Worked Solutions

-   All Variants
-   Solved with explanation of all choices A,B,C & D
-   Questions order from new to old
-   Each chapter has been classified into subtopics

  
  
**TABLE OF CONTENTS**

**CHAPTER 1 BANK RECONCILIATION STATEMENTS**  
1.1: CALCULATION OF ADJUSTED CASHBOOK BALANCE  
1.2: CALCULATION OF BANK STATEMENT BALANCE  
1.3: CALCULATION OF OTHER MISSING ITEMS  
1.4: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 2 IRRECOVERABLE DEBTS & DOUBTFUL DEBTS  
**2.1: IRRECOVERABLE DEBTS & IRRECOVERABLE DEBTS RECOVERED  
2.2: ALLOWANCE FOR IRRECOVERABLE DEBTS  
2.3: IRRECOVERABLE & ALLOWANCE FOR IRRECOVERABLE DEBTS  
2.4: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 3 ACCOUNTING FOR NON-CURRENT ASSETS**  
3.1: DEPRECIATION THEORY  
3.2: STRAIGHT LINE METHOD  
3.3: REDUCING BALANCE METHOD  
3.4: DISPOSAL OF ASSETS  
3.5: REVALUATION METHOD  
3.6: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 4 ACCOUNTING CONCEPTS**  
4.1: ENTITY AND CONSISTENCY  
4.2: PRUDENCE AND MATERIALITY  
4.3: MATCHING AND ACCRUAL AND REALISATION  
4.4: SUBSTANCE OVER FROM AND MONEY MEASUREMENT  
4.5: GOING CONCERN & HISTORICAL COST  
4.6: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 5 SOLE TRADER**  
5.1: DOUBLE ENTRY  
5.2: PREPAYMENT & ACCRUALS  
5.3: STATEMENTS OF PROFIT OR LOSS  
5.4: STATEMENT OF FINANCIAL POSITION  
5.5: LOWER OF COST AND NET REALISBALE VALUE  
5.6: TRADE AND CASH DISCOUNTS  
5.7: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 6 PARTNERSHIPS**  
6.1: PARTNERSHIP STATEMENTS OF PROFIT OR LOSS & APPROPRIATION ACCOUNT  
6.2: PARTNERSHIP CURRENT AND CAPITAL ACCOUNTS  
6.3: DOUBLE ENTRY IN PARTNERSHIP ACCOUNTS  
6.4: MULTIPLE TOPICS  
**ANSWERS SECTION**  
**  
CHAPTER 7 CAPITAL AND REVENUE  
**7.1: CAPITAL EXPENDITURES  
7.2: REVENUE EXPENDITURES  
7.3: CAPITAL AND REVENUE RECEIPTS  
7.4: MULTIPLE TOPICS  
**ANSWERS SECTION**  
**CHAPTER 8 CORRECTION OF ERRORS**   
8.1: ERRORS NOT AFFECTING AGREEMENT OF TRAIL BALANCE  
8.2: ERRORS AFFECTING AGREEMENT OF TRAIL BALANCE  
8.3: MISTAKES IN TRAIL BALANCE  
8.4: SUSPENSE ACCOUNT  
8.5: CALCULATION OF CORRECT PROFIT  
8.6: EFFECTS OF ERRORS ON PROFIT  
8.7: MULTIPLE TOPICS  
**ANSWERS SECTION**  
**  
CHAPTER 9 CONTROL ACCOUNTS**  
9.1: SALES LEDGER CONTROL ACCOUNT  
9.2: PURCHASE LEDGER CONTROL ACCOUNT  
9.3: CORRECTIONS IN SALES LEDGER CONTROL ACCOUNT  
9.4: CORRECTIONS IN PURCHASE LEDGER CONTROL ACCOUNT  
9.5: CONTROL ACCOUNT BALANCES FOR STATEMENT OF FINANCIAL POSITION  
9.6: BOOKS OF ORIGINAL ENTRY  
9.7: MULTIPLE TOPICS  
**ANSWERS SECTION**  
**  
CHAPTER 10 ACCOUNTS FROM INCOMPLETE RECORDS**  
10.1: CALCULATIONS OF SALES  
10.2: CALCULATIONS OF PURCHASES  
10.3: MARK-UP AND MARGIN  
10.4: PREPAYMENTS & ACCRUALS  
10.5: CALCULATE PROFIT THROUGH STATEMENT OF FINANCIAL POSITION  
10.6: CALCULATIONS OF INVENTORY  
10.7: CALCULATIONS OF INVENTORY LOSSES  
10.8: CALCULATIONS OF DEPRECIATION  
10.9: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 11 LIMITED COMAPNIES - SHARES AND DEBENTURES**  
11.1: SHARES AND DEBENTURES-AN INTRODUCTION  
11.2: CAPITAL AND REVENUE RESERVES  
11.3: RIGHT AND PUBLIC ISSUE  
11.4: BONUS ISSUE  
11.5: RIGHTS AND BONUS ISSUE COMBINED  
11.6: ISSUE OF SHARES AND DEBENTURES COMBINES  
11.7: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 12 LIMITED COMPANIES - FINANCIAL STATEMENTS  
**12.1: STATEMENT OF PROFIT OR LOSS FOR COMPANIES  
12.2: REVALUATION OF ASSETS  
12.3: CALCULATION OF DIVIDENDS  
12.4: CALCULATION OF RETAINED PROFITS  
12.5: STATEMENT OF CHANGES IN EQUITY  
12.6: STATEMENT OF FINANCIAL POSITION  
12.7: MULTIPLE TOPICS  
**ANSWERS SECTION  
**

**CHAPTER 13 ACCOUNTING** **RATIOS**  
13.1: EXPENSES AND PROFIT RATIOS-CALCULATION  
13.2: EXPENSES AND PROFIT RATIOS-INTERPRETATION  
13.3: RETURN ON CAPITAL EMPLOYED-CALCULATION  
13.4: RETURN ON CAPITAL EMPLOYED-INTERPRETATION  
13.5: INVENTORY TURNOVER RATIO-CALCULATION  
13.6: INVENTORY TURNOVER RATIO-INTERPRETATION  
13.7: RECEIVABLES & PAYABLES PAYMENT PERIOD-CALCULATION  
13.8: RECEIVABLES & PAYABLES PAYMENT PERIOD-INTERPRETATION  
13.9: LIQUIDITY RATIOS-CALCULATION  
13.10: LIQUIDITY RATIOS-INTERPRETATION  
13.11: NON CURRENT ASSETS TURNOVER RATIO-CALCULATION  
13.12: NON CURRENT ASSETS TURNOVER RATIO-INTERPRETATION  
13.13: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 14 COMPUTERISED ACCOUNTING SYSTEM**  
14.1: COMPUTERISED ACCOUNTING SYSTEM - ADVANTAGES  
14.2: MULTIPLE TOPICS  
**ANSWERS SECTION**  

**CHAPTER 15 COST ACCOUNTING - AN INTRODUCTION**  
15.1: FIXED COSTS  
15.2: VARIABLE COST  
15.3: SEMI VARIABLE COST  
15.4: DIRECT AND INDIRECT COSTS  
15.5: SUNK AND STEPPED COSTS  
15.6: MULTIPLE TOPICS  
**ANSWERS SECTION**  
**  
CHAPTER 16 MATERIAL & LABOUR COSTING**  
16.1: BASIC PAY  
16.2: BONUSES  
16.3: OVERTIME  
16.4: BONUSES & OVERTIME  
16.5: FIRST IN FIRST OUT (FIFO)  
16.6: AVERAGE COST METHOD (AVCO)  
16.7: JUST IN TIME INVENTORY  
16.8: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 17 ABSORPTION COSTING**  
17.1: APPORTIONMENT & ALLOTMENT OF OVERHEADS  
17.2: CALCULATION OF OVERHEAD ABSORPTION RATE  
17.3: CALCULATION OF PER UNIT COST AND SELLING PRICE  
17.4: CALCULATION OF UNDER (OVER) ABSORPTION OF OVERHEADS  
17.5: ABSORPTION COSTING-THEORY  
17.6: JOB AND BATCH COSTING-CALCULATIONS  
17.7: JOB AND BATCH COSTING- THEORY  
**ANSWERS SECTION**  
**  
CHAPTER 18 MARGINAL COSTING - BREAK-EVEN**  
18.1: CONTRIBUTION AND CONTRIBUTION RATIO  
18.2: BREAK-EVEN  
18.3: MARGIN OF SAFETY  
18.4: BREAK-EVEN AND PROFIT VOLUME CHART  
18.5: COST-VOLUME-PROFIT ANALYSIS  
18.6: MULTIPLE TOPICS  
**ANSWERS SECTION**

**CHAPTER 19 MARGINAL COSTING & DECISION MAKING**  
19.1: CALCULATIONS OF TOTAL COSTS & PROFITS  
19.2: HIGH-LOW METHOD  
19.3: CLOSURE OF LOSS MAKING DEPARTMENT  
19.4: MAKE OR BUY DECISION  
19.5: ACCEPTANCE OF ORDERS BELOW NORMAL PRICE  
**ANSWERS SECTION**

**CHAPTER 20 LIMITING FACTORS IN MARGINAL COSTING**    
20.1: IDENTIFICATION OF LIMITING FACTOR  
20.2: PRODUCTION RANKING  
20.3: OPTIMUM PRODUCTION PLAN  
20.4: CALCULATION OF PROFIT  
**ANSWER SECTION**

**CHAPTER 21 MARGINAL & ABSORPTION PROFIT STATEMENTS  
**21.1: CALCULATION OF COSTS AND INVENTORIES  
21.2: CALCULATION OF PROFITS  
21.3:RECONCILIATION OF PROFITS  
21.4: MULTIPLE TOPICS  
**ANSWERS SECTION**

## Details

- **Price:** 2400.0 PKR
- **Vendor:** Read & Write
- **Tags:** A Level, A Level Accounting, Accounting, IGCSE Accounting, MCQs, P1

## Variants

| Variant | Price | Available |
|---------|-------|-----------|
| Default Title | 2400.00 PKR | In stock |

## Images

- 111 Accounting AS-Level MCQ's Paper-1 Topical Worked Solutions
- 111 Accounting AS-Level MCQ's Paper-1 Topical Worked Solutions
- 111 Accounting AS-Level MCQ's Paper-1 Topical Worked Solutions
- 111 Accounting AS-Level MCQ's Paper-1 Topical Worked Solutions
- 111 Accounting AS-Level MCQ's Paper-1 Topical Worked Solutions
- 111 Accounting AS-Level MCQ's Paper-1 Topical Worked Solutions

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> Updated: 2026-09-29