cameroon gce advanced level 2025 financial accounting 1

Based on the image provided, here is the extracted data, which includes a set of multiple-choice questions from an accounting exam.

Question 1

Income and Assets should not be overstated. This is in line with which of the accounting concepts?

A. Prudence concept

B. Accrual concept

C. Consistency concept

D. Materiality concept

Question 2

The act of recording balance brought forward into an account is known as

A. Balancing off the account

B. Closing the account

C. Opening the account

D. Reopening the account

Question 3

When Mr Pual makes out a bill of exchange and send it to Mr Jones, then Mr Pual is known as

A. The Drawee

B. The Drawer

C. The Beneficiary

D. The Subscriber

Question 4

The sales invoice of Mah Entity shows a gross amount of 1,000,000 CFAF, a trade discount of 2% and VAT at the rate of 19.25%. How much is to be recorded on the credit side of account 701.

A. 1,000,000 CFAF

B. 980,000 CFAF

C. 1,020,000 CFAF

D. 1,168,650 CFAF

Question 5

The cash account of an Entity has an opening balance of 1,500,000 CFAF. This account has recorded a debit movement of 2,175,000 CFAF and a credit movement of 3,000,000 CFAF. The closing balance of the cash account is:

A. 2,325,000 CFAF

B. 6,675,000 CFAF

C. 625,000 CFAF

D. 6,675,000 CFAF

Question 6

Which of the following is debited in the bank account column of the bank reconciliation statement?

A. Customers’ transfer to bank directly

B. Domiciliation of a bill by the bank

C. Unpresented cheques

D. Bank charges

Question 7

A request made by a customer asking the bank to make regular payments of a fixed amount out of his account is known as ……..

A. Credit transfer

B. Bank order

C. Standing order

D. Debit advice

Question 8

In a cash control carried out by controller, the following balance were obtained:

Physical cash in hand 124 567 CFAF

Cash ledger balance 123 677 CFAF

The entry to record the difference is

A. Dr. 57-cash in hand 870 CFAF

Cr. 758-sundry revenues 870 CFAF

B. Dr. 57-cash in hand 870 CFAF

Cr. 658-sundry expenses 870 CFAF

C. Dr. 658-Sundry expenses 870 CFAF

Cr. 57-cash in hand 870 CFAF

D. Dr. 758-sundry revenues 870 CFAF

Cr. 57-cash in hand 870 CFAF

Question 9

Identify the person who bears the charges when a bank dishonoured a bill of exchange.

A. Drawer

B. Drawee

C. Payer

D. Payee

Question 10

A worker who works under the normal system of 40 hours per week earn a monthly basic salary of 43,320 CFAF. In a certain week, he put in an overtime of 20 hours. How much is his normal hourly pay?

A. 2,086 CFAF

B. 2,222 CFAF

C. 2,500 CFAF

D. 1,786 CFAF

Question 11

Question 11 and 12 relates to invoice N° 245.

Gross value 50,000 CFAF

Trade discount 5%

Transport invoiced 5500 CFAF

VAT 19.25%

What is the cost price of the invoice?

A. 55,500 CFAF

B. 53,000 CFAF

C. 63,202.5 CFAF

D. 62,143.75 CFAF

Question 12

How much will the customer pay to the supplier?

A. 55,500 CFAF

B. 53,000 CFAF

C. 63,202.5 CFAF

D. 62,143.75 CFAF