This question paper consists of 12 printed pages.
SP (SM) S25750/1
© UCLES 2002
1 hour 15 minutes
INSTRUCTIONS TO CANDIDATES
Do not open this booklet until you are told to do so.
Write your name, Centre number and candidate number on the answer sheet in the spaces provided
unless this has already been done for you.
There are forty questions in this paper. Answer all questions. For each question there are four
possible answers, A, B, C and D. Choose the one you consider correct and record your choice in soft
pencil on the separate answer sheet.
Read very carefully the instructions on the answer sheet.
INFORMATION FOR CANDIDATES
Each correct answer will score one mark. A mark will not be deducted for a wrong answer.
Any rough working should be done in this booklet.
Calculators may be used.
CAMBRIDGE INTERNATIONAL EXAMINATIONS
Joint Examination for the School Certificate
and General Certificate of Education Ordinary Level
PRINCIPLES OF ACCOUNTS
PAPER 1 Multiple Choice
OCTOBER/NOVEMBER SESSION 2002
1 hour 15 minutes
Multiple Choice answer sheet
Soft clean eraser
Soft pencil (type B or HB is recommended)
1 Which transaction is recorded in the sales ledger?
cheque paid to a creditor
cheque received from a debtor
sale of fixed assets
In which book is a credit note from a supplier entered?
purchases returns journal
sales returns journal
3 Which book of prime entry is part of the double entry system?
Y allows X trade discount of 25% and cash discount of 5% if invoices are paid within 30 days.
X purchases goods with a list price of $1200 from Y.
Which amount will be entered in X’s purchases journal?
$840 B $855 C $900 D $1200
A business keeps a three column cash book. How is the total of the discount column on the debit
credit Discount Allowed account
credit Discount Received account