Cambridge O Level
ACCOUNTING 7707/13
Paper 1 Multiple Choice October/November 2024
1 hour 15 minutes
You must answer on the multiple choice answer sheet.
*0332667237*
You will need: Multiple choice answer sheet
Soft clean eraser
Soft pencil (type B or HB is recommended)
INSTRUCTIONS
There are thirty-five 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 multiple choice answer sheet.
Follow the instructions on the multiple choice answer sheet.
Write in soft pencil.
Write your name, centre number and candidate number on the multiple choice answer sheet in the
spaces provided unless this has been done for you.
Do not use correction fluid.
Do not write on any bar codes.
You may use a calculator.
INFORMATION
The total mark for this paper is 35.
Each correct answer will score one mark.
Any rough working should be done on this question paper.
This document has 12 pages. Any blank pages are indicated.
IB23 11_7707_13/FP
© UCLES 2024 [Turn over
, 2
1 What is the purpose of measuring business profit and loss?
A to check the productivity of employees
B to consider the ability of the business to grow
C to determine how much cash is available
D to ensure that the inventory is not overstated
2 At the end of her first year of trading Zoe had $6500 in her business bank account.
Then she paid $5000 of her own money into the business bank account. She used $2000 of this
amount to repay a business loan.
What effect would these transactions have on her assets, capital and liabilities?
assets capital liabilities
$ $ $
A –3000 –5000 +2000
B +3000 +5000 –2000
C +3000 +3000 unchanged
D +5000 +5000 unchanged
3 Which business document is used by a trader to record amounts deposited into the bank account?
A bank statement
B cheque counterfoil
C paying-in slip
D statement of account
© UCLES 2024
7707/13/O/N/24
ACCOUNTING 7707/13
Paper 1 Multiple Choice October/November 2024
1 hour 15 minutes
You must answer on the multiple choice answer sheet.
*0332667237*
You will need: Multiple choice answer sheet
Soft clean eraser
Soft pencil (type B or HB is recommended)
INSTRUCTIONS
There are thirty-five 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 multiple choice answer sheet.
Follow the instructions on the multiple choice answer sheet.
Write in soft pencil.
Write your name, centre number and candidate number on the multiple choice answer sheet in the
spaces provided unless this has been done for you.
Do not use correction fluid.
Do not write on any bar codes.
You may use a calculator.
INFORMATION
The total mark for this paper is 35.
Each correct answer will score one mark.
Any rough working should be done on this question paper.
This document has 12 pages. Any blank pages are indicated.
IB23 11_7707_13/FP
© UCLES 2024 [Turn over
, 2
1 What is the purpose of measuring business profit and loss?
A to check the productivity of employees
B to consider the ability of the business to grow
C to determine how much cash is available
D to ensure that the inventory is not overstated
2 At the end of her first year of trading Zoe had $6500 in her business bank account.
Then she paid $5000 of her own money into the business bank account. She used $2000 of this
amount to repay a business loan.
What effect would these transactions have on her assets, capital and liabilities?
assets capital liabilities
$ $ $
A –3000 –5000 +2000
B +3000 +5000 –2000
C +3000 +3000 unchanged
D +5000 +5000 unchanged
3 Which business document is used by a trader to record amounts deposited into the bank account?
A bank statement
B cheque counterfoil
C paying-in slip
D statement of account
© UCLES 2024
7707/13/O/N/24
