Pearson Edexcel International GCSE 4AC1/01 Accounting Level 1/2 PAPER 1: Introduction to Bookkeeping and Accounting QP JUNE 2024

SECTION A Answer ALL questions. Write your answers in the spaces provided. For questions 1–10, choose an answer A, B, C or D, and put a cross in the box . If you change your mind about an answer, put a line through the box and then mark your new answer with a cross . 1 Which book of original entry is used to record small cash payments? A Journal B Petty cash book C Purchases day book D Three column cash book (Total for Question 1 = 1 mark) 2 Which transaction will be recorded in the purchases day book? A Purchase of goods by cash B Purchase of goods on credit C Purchase of a machine on credit D Purchase of stationery by cash (Total for Question 2 = 1 mark) 3 Which transaction would cause a decrease in trade payables? A Purchase of goods from a credit supplier B Return of goods from a credit customer C Return of goods to a credit supplier D Sale of goods to a credit customer (Total for Question 3 = 1 mark) DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA3 ■■■■ Turn over 4 Where would the total discounts on the credit side of a cash book be posted? A Credit discounts allowed B Credit discounts received C Debit discounts allowed D Debit discounts received (Total for Question 4 = 1 mark) 5 Which one of the following is not an asset? A Inventory B Premises C Trade payables D Trade receivables (Total for Question 5 = 1 mark) 6 Which accounting concept is described in the statement ‘The business will continue in existence for the foreseeable future’? A Business entity B Consistency C Going concern D Prudence (Total for Question 6 = 1 mark) 7 Which accounting concept is described in the statement ‘Profits and assets are not overstated’? A Business entity B Consistency C Going concern D Prudence (Total for Question 7 = 1 mark) DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AR