{"product_id":"accounting-o-level-mcqs-p-1-topical-yearly","title":"101 Accounting O-Level\/IGCSE MCQ'S P-1 Topical Worked Solutions","description":"\u003cp\u003e \u003c\/p\u003e\n\u003ch2\u003e101 Accounting O Level\/IGCSE MCQ'S Paper 1\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003eCambridge University has adopted MCQs as a part of O Level Accounting 7110 Examinations since 2000. Now almost 33.3% of weightage is allocated to MCQs.\u003c\/p\u003e\n\u003cp\u003eEach topic of the syllabus has been covered in a separate chapter containing MCQs from the \u003ca href=\"https:\/\/readnwrite.org\/product\/accounting-a2-level-p-3-topical-yearly\/\"\u003e\u003cstrong\u003epast papers\u003c\/strong\u003e\u003c\/a\u003e. All the MCQs in this Book have been compiled according to the May June or October November year in which they were set in the O Level Cambridge examinations updated till 2025.\u003c\/p\u003e\n\u003cp\u003eFor the better understanding of the questions detailed answers are also given at the end of each chapter. CAIE Students will find “Student Evaluation Card” quite useful. This will enable them to compare their performances and focus on the weaker areas.\u003c\/p\u003e\n\u003cp\u003eThe correct answers to the Questions are given in the answer key at the end of each chapter.\u003c\/p\u003e\n\u003cp\u003eIn the current edition Financial statements of sole traders has been subdivided into four topics so that students may focus on each sub topic independently.\u003c\/p\u003e\n\u003cp\u003eNow you can place order for this book in both paperback and ebook format. ebooks are for online reading and these are not pdf files to download. The purchaser is granted a single, nontransferable license for his or her personal use of the E-book on digital media for the period of one year from the date of purchase.\u003c\/p\u003e\n\u003cp\u003eThe purchaser is not authorized to grant access to the E-book, in whole or in part, to any third party, in particular, to sublicense, to transfer, to timeshare, or to rent out the E-book.\u003c\/p\u003e\n\u003cp\u003eMaking the E-book available on the Internet or in other networks, reselling the E-book, and\/or any use for commercial purposes is not permitted\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e101 Accounting O Level\/OGCSE MCQ'S Paper 1\u003c\/h3\u003e\n\u003cp\u003e\u003cbr\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eAll Variants\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eSolved with explanation of all choices A,B,C \u0026amp; D\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eQuestions order from new to old\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eEach Chapter has been classified into sub topics\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cbr\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 1 ACCOUNTING BASICS\u003c\/strong\u003e\u003cbr\u003e1.1: BASIC ACCOUNTING \u0026amp; ACCOUNTING EQUATIONS\u003cbr\u003e1.2: JOURNAL ENTRIES\u003cbr\u003e1.3: LEDGER ACCOUNTS\u003cbr\u003e1.4: BOOK KEEPING \u0026amp; ACCOUNTING\u003cbr\u003e1.5: TRAIL BALANCE\u003cbr\u003e1.6: THEORY\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 2 BOOKS OF PRIME ENTRY\u003c\/strong\u003e\u003cbr\u003e2.1: PURCHASES JOURNAL\u003cbr\u003e2.2: SALES JOURNAL\u003cbr\u003e2.3: RETURN OUTWARDS JOURNAL\u003cbr\u003e2.4: RETURN INWARDS JOURNAL\u003cbr\u003e2.5: GENERAL JOURNAL\u003cbr\u003e2.6: PURCHASES LEDGER\u003cbr\u003e2.7: SALES LEDGER\u003cbr\u003e2.8: OTHER SOURCE DOCUMENTS\u003cbr\u003e2.9: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 3 CASH BOOK AND PETTY CASH BOOK\u003c\/strong\u003e\u003cbr\u003e3.1: TRADE DISCOUNT\u003cbr\u003e3.2: CASH DISCOUNT\u003cbr\u003e3.3: CALCULATION OF AMOUNTS NET OF DISCOUNTS\u003cbr\u003e3.4: DOUBLE ENTRY IN CASH BOOK\u003cbr\u003e3.5: CALCULATION OF CASH BOOK BALANCES\u003cbr\u003e3.6: PETTY CASH BOOK\u003cbr\u003e3.7: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 4 BANK RECONCILIATION STATEMENTS\u003c\/strong\u003e\u003cbr\u003e4.1: UPDATED CASHBOOK\u003cbr\u003e4.2: BANK RECONCILIATION STATEMENTS\u003cbr\u003e4.3: CALCULATION OF OTHER MISSING ITEMS\u003cbr\u003e4.4: THEORY\u003cbr\u003e4.5: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003cbr\u003eCHAPTER 5 ACCOUNTING FOR NON-CURRENT ASSETS\u003c\/strong\u003e\u003cbr\u003e5.1: THEORY\u003cbr\u003e5.2: STRAIGHT LINE METHOD\u003cbr\u003e5.3: REDUCING BALANCE METHOD\u003cbr\u003e5.4: REVALUATION METHOD\u003cbr\u003e5.5: DEPRECIATION METHODS COMBINED\u003cbr\u003e5.6: DISPOSAL OF ASSETS\u003cbr\u003e5.7: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cb\u003eCHAPTER 6 IRRECOVERABLE DEBTS \u0026amp; PROVISION FOR DOUBTFUL DEBTS\u003c\/b\u003e\u003cbr\u003e6.1: IRRECOVERABLE DEBTS\u003cbr\u003e6.2: ALLOWANCE FOR IRRECOVERABLE DEBTS\u003cbr\u003e6.3: IRRECOVERABLE \u0026amp; ALLOWANCE FOR IRRECOVERABLE DEBTS\u003cbr\u003e6.4: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 7 INVENRORY VALUATION\u003c\/strong\u003e\u003cbr\u003e7.1: INVENTORY VALUATION\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 8 CAPITAL \u0026amp; REVENUE\u003c\/strong\u003e\u003cbr\u003e8.1: CAPITAL EXPENDITURE\u003cbr\u003e8.2: REVENUE EXPENDITURE\u003cbr\u003e8.3: CAPITAL \u0026amp; REVENUE RECEIPTS\u003cbr\u003e8.4: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 9 CORRECTION OF ERRORS \u003c\/strong\u003e\u003cbr\u003e9.1: TYPES OF ERROR\u003cbr\u003e9.2: JOURNAL ENTERIES TO CORRECT THE MISTAKES\u003cbr\u003e9.3: MISTAKES IN TRAIL BALANCE\u003cbr\u003e9.4: SUSPENSE ACCOUNT\u003cbr\u003e9.5: CORRECTION OF PROFITS\u003cbr\u003e9.6: EFFECTS OF ERRORS ON PROFITS\u003cbr\u003e\u003cstrong\u003eANSWERS SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 10 CONTROL ACCOUNTS\u003c\/strong\u003e\u003cbr\u003e10.1: SALES LEDGER CONTROL ACCOUNTS\u003cbr\u003e10.2: PURCHASE LEDGER CONTROL ACCOUNTS\u003cbr\u003e10.3: THEORY\u003cbr\u003e10.4: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWERS SECTIONS\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 11 OTHER PAYABLES \u0026amp; RECIEVABLES\u003c\/strong\u003e\u003cbr\u003e11.1: PREPARED \u0026amp; ACCURED EXPENSES\u003cbr\u003e11.2: PRE-RECEIVED \u0026amp; ACCURED INCOMES\u003cbr\u003e11.3: MILTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 12 SOLE TRADERS\u003c\/strong\u003e\u003cbr\u003e12.1: SOLE TRADERS - AN INTRODUCTION\u003cbr\u003e12.2: TRADING SECTION OF INCOME STATEMENTS\u003cbr\u003e12.3: PROFIT \u0026amp; LOSS SECTION\u003cbr\u003e12.4: STATEMENT OF PROFIT OR LOSS FOR SERVICE BUSINESSES\u003cbr\u003e12.5: NON CURRENT AND CURRENT ASSETS\u003cbr\u003e12.6: WORKING CAPITAL\u003cbr\u003e12.7: CAPITAL \u0026amp; CURRENT LIABILITIES\u003cbr\u003e12.8: CAPITAL \u0026amp; CAPITAL EMPLOYED\u003cbr\u003e12.9: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 13 PARTNERSHIP\u003cbr\u003e\u003c\/strong\u003e13.1: APPROPRIATION ACCOUNT\u003cbr\u003e13.2: PARTNERS' CURRENT CAPITAL ACCOUNTS\u003cbr\u003e13.3: JOURNAL ENTRIES IN PARTNERSHIP\u003cbr\u003e13.4: PARTNERSHIP AGREEMENT\u003cbr\u003e\u003cstrong\u003eANSWERS SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 14 LIMITED COMPANIES\u003c\/strong\u003e\u003cbr\u003e14.1: ORDINARY SHARES\u003cbr\u003e14.2: PREFERENCE SHARES \u0026amp; DEBENTURES\u003cbr\u003e14.3: CALCULATION OF DIVIDENDS \u0026amp; RETAINED PROFITS\u003cbr\u003e14.4: STATEMENT OF CHANGES IN EQUITY\u003cbr\u003e14.5: STATEMENT OF FINANCIAL POSITION\u003cbr\u003e14.6: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWERS SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 15 INCOMPLETE RECORDS\u003c\/strong\u003e\u003cbr\u003e15.1: CALCULATION OF SALES\u003cbr\u003e15.2: CALCULATION OF PURCHASES\u003cbr\u003e15.3: MARKUP \u0026amp; MARGIN\u003cbr\u003e15.4: CALCULATION OF PROFITS THROUGH BALANCE SHEET\u003cbr\u003e15.5: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWERS SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 16 CLUBS \u0026amp; SOCIETIES\u003c\/strong\u003e\u003cbr\u003e16.1: RECEIPTS \u0026amp; PAYMENTS ACCOUNTS\u003cbr\u003e16.2: CALCULATIONS OF SUBSCRIPTION\u003cbr\u003e16.3: INCOME \u0026amp; EXPENDITURE ACCOUNTS\u003cbr\u003e16.4: STATEMENTS OF FINANCIAL POSITION\u003cbr\u003e16.5: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWERS SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 17 MANUFACTURING ACCOUNTS\u003c\/strong\u003e\u003cbr\u003e17.1: PRIME COST\u003cbr\u003e17.2: FACTORY OVERHEADS\u003cbr\u003e17.3: COST OF PRODUCTION\u003cbr\u003e17.4: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWERS SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 18 ACCOUNTING RATIOS\u003c\/strong\u003e\u003cbr\u003e18.1: GROSS PROFIT MARGIN\u003cbr\u003e18.2: PROFIT MARGIN \u0026amp; ROCE\u003cbr\u003e18.3: WORKING CAPITAL \u0026amp; CURRENT RATIO\u003cbr\u003e18.4: LIQUID RATIO\u003cbr\u003e18.5: INVENTORY TURNOVER RATIO\u003cbr\u003e18.6: TRADE RECEIVABLE \u0026amp; PAYABLE TURNOVER\u003cbr\u003e18.7: MULTIPLE TOPICS\u003cbr\u003e\u003cstrong\u003eANSWERS SECTIONS\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 19 INTRESTED PARTIES\u003c\/strong\u003e\u003cbr\u003e19.1: INTRESTED PARTIES\u003cbr\u003e\u003cstrong\u003eANSWERS SECTIONS\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCHAPTER 20 LIMITATIONS OF ACCOUNTING STATEMENTS\u003c\/strong\u003e\u003cbr\u003e20.1: LIMITATIONS OF ACCOUNTING STATEMENTS\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e \u003c\/strong\u003e\u003cstrong\u003e\u003cbr\u003eCHAPTER 21 ACCOUNTING CONCEPTS \u003c\/strong\u003e\u003cbr\u003e21.1: ENTITY \u0026amp; DUALITY\u003cbr\u003e21.2: PRUDENCE \u0026amp; MONEY MEASUREMENT\u003cbr\u003e21.3: MATCHING, ACCRUAL \u0026amp; 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