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FORMTP2009105
CARIB)3EAN
TESTCODE'.'01239010
MAY/JUNE 2009
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EXAMINATIONS
COUNCIL
C.E.S.E.C.
This test co11sists of 60 items. You will have 90 minutes to answer them.
2.
3.
Do not be concerned that the answer sheet provides spaces for more answers than there are items
in this test.
4.
Each item in this test has four suggested answers lettered (A), (B ), (C), (D). Read each item you
are about to answer and decide which choice is best.
5.
On your answer sheet, find the number which coJTesponds to your item and shade the space having
the same letter as the answer you have chosen. Look at how it is done in the sample item below.
Sample Item
Prime cost is calculated by adding direct factory expenses to the
(A)
(B)
(C)
(D)
Sample Answer
The best answer to this item is "cost of materials used", so answer space (DJ has been shaded.
6.
7.
. If you want to change your answer, erase it completely before you fill in your new choice.
When you are told to begin, turn the page and work as quickly and as carefully as you can. If you
cannot answer an item, omit it and go on to the next one. Your score will be the total number of
correct anS\.\'ers.
8.
'
-;
-21.
s_
transaction?
(A)
(B)
(C)
(0)
Payment of taxes
Day to day accumulation of interest
Physical wear and tear on machinery
and equipment
Co1Tesponding with customers and
creditors
$ 1 000
$15500
$16500
$32000
2_
(A)
(B)
(C)
(D)
3_
Accrual
Consistency
G<?ing cont:em
Money measurement
Motor vehicle
Creditors
Debtors
Capital
Building
6.
(C)
(D)
(A)
(BJ
transactions
closings tock
assets and liabilities
7_
4_
(Bl
(C)
(D)
(A)
(B)
(C)
(D)
$12000
$13000
$14000
$15000
profits
(C)
(D)
2 000
3 000
2 000
11 000
10000
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8.
9.
60 000
100 000
200 000
150 000
(Cl
(D)
(A)
(B)
(C)
(D)
11.
12.
$ 40000
$ 90000
$150000
$190000
Bank Column
Cash Column
DiscountAllowedColunm
Discount Received Column
13.
Account?
(A)
(A)
(B)
(C)
(D)
$375
$400
$450
$500
'(B)
(Cl
(D)
10.
I
I
14.
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LIBRARY
636-2585
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Dr Purchases Account
Cr Tan Account
Dr Typewriter Account
Cr Cash
Dr Tan Account
Cr Purchases Account
Dr Typewriter Account
Cr Tan Company
$ SO
(B)
(C)
$450
$490
$550
(D)
C.E.S.E.C.
-415.
(C)
(D)
16.
17.
Ledger
Journal
Sales Book
Purchases Book
(C)
(D)
Capital is decreased.
Capital is increased.
Drawings are decreased.
Neither drawings nor capital is
affected.
Carriage Inwards
Discount Allowed
Commission
(D)
Furniture
Cash Account
(Opening balance)
May 01, 2007
May 05, 2007
Sales
Sales
$
400.00
150.00
75.00
625.00
18.
May03, 2007
May 07, 2007
May09, 2007
(Closing balance)
$
50.00
20.00
150.00
405.00
625.00
625
405
400
150
-519.
(A)
(B)
(C)
(D)
20.
(A)
(B)
(C)
21
$125
$425
$675
$925
Dr Bank? 000
Dr Rent 5 000
Dr Cash 5 000
Dr Rent 5 000
Land
Building
Stock
Debtors
Bank overdraft
Creditors
Cash
Capital (at start)
Cr Rent 5 000
Cr Bank 5 000
Cr Rent 5 000
Cr Expense 5 000
Drawings
Net Profit
Dr K. Khan
Dr Discount Received
Cr Bank
$117
$ 3
$120
(B)
Dr K. Khan
Dr Discount Allowed
Cr Bank
$117
$ 3
$120
(C)
Dr Bank
Dr Discount Allowed
Cr K. Khan
$117
$ 3
$120
(D)
(A)
(B)
(C)
(D)
(D)
22.
Dr Bank
Cr Discount Received
Cr K. Khan
$117
$ 3
$120
23.
500
400
700
200
10,000
300
3,000
1.45:
1.64:
2.57:
3.14:
I
I
I
I
25.
1,100
24.
$
7,000
5,000
0.64: 1
1.57: I
1.64: I
I :I
11 %
25%
28%
30%
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-626.
27.
(A)
(B)
(C)
(A)
(D)
I and II only
I and III only
II and IV only
III and IV only
(B)
2004
$
2005
$
2006
$
Opening Stock
10000 14 000 16 000
(Jan 01)
2004
(C)
28.
2004
decreased by $3 000 in 2006 over
2005
(D)
(A)
(B)
(C)
time
(D)
Amount
$6 000
$4000
$8 000
What is the TOTAL provision for bad debts for the year?
(A)
(B)
(C)
(D)
$180
$ 340
$400
$500
1A
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-730.
(A)
(B)
(C)
(0)
31.
(A)
(B)
34.
(C)
(0)
35.
(B)
(C)
(0)
locating errors
limiting drawings
increasing profits
limiting expenditure
36.
33.
(A)
(B)
(C)
(0)
l 200
300
so
$ SS SOO
$102SOO
$108SOO
$14SSOO
(C)
(0)
Net Pay
Income Tax
National Insurance
32.
V. Jones
$ 8SO
$ 9SO
$14SO
$1SSO
Dr Sales NC
Cr Sales NC
Dr Suspense NC
Cr Suspense NC
(A)
(B)
(C)
(D)
I and II only
I and III on! y
land IV only
II and III only
$12100
$14SOO
$1S300
$17700
-837.
$
Debtors at start of
the year
Cash received from
debtors during year
Debtors at end of
the year
(D)
$25500
$28500
$31500
$33000
38.
8 200
17 400
9 300
$16300
$18500
$25600
$26700
(D)
$
2 500
Capital at beginning
Current assets
3 000
+Net profit
- Drawings
$
3 000
')
_flQQ)
Capital at end
Liabilities
l 500
5 500
5 500
39.
$1300
$1500
$1600
$1800
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GO ON TO THE NEXT PAGE
1. j
_J
-940.
debit Cash NC
credit Repairs NC
(B)
debit Cash NC
credit Machinery NC
42.
\!
11
(C)
(D)
debit Repairs NC
credit Cash NC
(A)
(B)
debit A. Jones NC
credit Cash NC
(C)
(D)
41.
(A)
(B)
(C)
(D)
$ 4 725
$ 9450
$14175
$18900
43.
$1500
$2500
$3000
$4500
W's Capital
X's Capital
Y's Capital
Z's Capital
$300
$200
$100
$300
(C)
(D)
44.
$ 800
$1200
$1800
$2400
Profits of$2 400 have been shared in equal proportions between two partners, Debbie and Andrea.
Andrea, however, should only have received 40%. What must be the conecting ent1ies in the pannership
books?
(A)
(B)
(C)
(D)
Dr Andrea's NC
Dr Andrea's NC
Dr Appropriation NC
Dr Debbie's NC
$960
$240
$960
$240
Cr Debbie's NC
Cr Debbie's NC
Cr Andrea's NC
Cr Andrea's NC
$960.
$240
$960
$240
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45.
Mortgage
(A)
(B)
(C)
Debenture
Memorandum
(D)
(C)
Tvoes of share
Ordinary
5% Preference
No. of
Units
Par Value
20000
10000
$2.00
$5.00
49.
(A)
(B)
(C)
(D)
$30000
$40000
$ 50000
$90000
(C)
(D)
51.
settle disputes
maximize profits
provide goods and services
maximize the welfare of members
$ lOO
$ 225
$1500
$1515
50.
47.
(A)
(B)
(D)
46.
48.
(B)
swplus
net profit
(C)
gross profit
(0)
accumulated fund
(Bl
(CJ
\Dl
$100000
$ 80 000
$ 50000
$ 40000
52.
(A)
(B)
(C)
(DJ
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53.
info~-n1ation.
50
$ 50
$450
$150
$ 450
$1500
$1950
$2500
SS.
2 000
l 000
3 000
4 500
2 000
3 000
(C)
(D)
54.
500
$ 7 000
$ 8000
$ 9000
$11000
$
3 000
l 000
5 000
l 000
3 000
(A)
(B)
(C)
(D)
$ 9 000
$11000
$12000
$13000
$ 800
$3900
$4500
$5300
(B)
(C)
(D)
(D)
$180
$190
$240
$270
$ 800
$1200
$3900
$4500
6 800
(B)
(C),
57.
(A)
(B)
(C)
(D)
58.
59.
Bal. c/d
I 400
3 900
1 300
900
100
400
200
6 800
Productive wages
Fuel and power
Lubricants
Rent and rates
Insurance
56.
800
4 500
5 300
60.
$246
$260
$266
$280
IF YOU FINISH BEFORE TIME IS CALLED, CHECK YOUR WORK ON THIS TEST.
012390 I0072009
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