UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS
General Certificate of Education Advanced Level
Paper 3 Multiple Choice
Additional Materials: Multiple Choice Answer Sheet
Soft clean eraser
Soft pencil (type B or 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.
This document consists of 11 printed pages and 1 blank page.
A company bought new equipment costing $200 000. It paid $150 000 in cash and received a
part-exchange allowance of $50 000 on some old equipment, which had a book value of $40 000.
It also sold another item of equipment, with a book value of $20 000, for $15 000.
How should these transactions appear in a cash flow statement?
purchase of tangible
sale of tangible
The following items have been extracted from the Income and Expenditure Account of a club.
depreciation of equipment
subscriptions paid in advance
subscriptions owing at year end
expenses paid in advanc