This document consists of 10 printed pages and 2 blank pages.
© UCLES 2008
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS
General Certificate of Education Ordinary Level
PRINCIPLES OF ACCOUNTS
Paper 1 Multiple Choice
Multiple Choice Answer Sheet
Soft clean eraser
Soft pencil (type B and HB is recommended)
READ THESE INSTRUCTIONS FIRST
Write in soft pencil.
Do not use staples, paper clips, highlighters, glue or correction fluid.
Write your name, Centre number and candidate number on the Answer Sheet in the spaces provided
unless this has been done for you.
There are thirty questions on 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 the instructions on the Answer Sheet very carefully.
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.
© UCLES 2008
1 What is a disadvantage of a computerised accounting system?
A Anyone with a computer can gain access to the accounting records.
B Data input can only be used for one specific purpose.
C Data output can only be understood by computer programmers.
D Operator error may result in inaccurate information.
2 What is the accounting equation?
A assets – liabilities = capital
B assets + liabilities = capital
liabilities – assets = capital
liabilities – capital = assets
3 Winston sold goods on credit to Leroy.
What entries should Winston make in his ledgers?
4 Omar sends a credit note to Miriam for goods returned.