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Subjects · Leaving Certificate

Leaving Cert Accounting

What has come up on the Accounting papers (2016–2026), topic by topic, with step-by-step practice at Higher Level and Ordinary Level.

Higher Level Ordinary Level

Accounting, Higher Level(6 marks)

Three quick ones from the Accounting topics that come up most.

(a)Wages owing at year end are a…
  1. Current asset
  2. Current liability
  3. Fixed asset
(b)Writing off a bad debt: which account is credited?
  1. Sales account
  2. Bad debts account
  3. The debtor's account
(c)An invoice for €450 entered as €540 in both accounts is an error of…
  1. Original entry
  2. Principle
  3. Commission
Show the answers

(a) Current liability

(b) The debtor's account

(c) Original entry

Your turn: pick the answer for each one.

Higher Level

400 flash cards and 240 step-by-step drill questions at Higher Level.

What comes up

How many of the last 10 Accounting Higher Level papers asked each topic.

TopicAskedLast seenHow often
Depreciation banker10 of 102026
Correction of errors banker10 of 102026
Accruals and prepayments banker10 of 102026
Bad debts and provisions banker10 of 102026
Ratios — efficiency banker10 of 102026
Ratios — interpretation banker10 of 102026
Ratios — investment banker10 of 102026
Ratios — profitability banker10 of 102026
Company final accounts banker9 of 102026
Bank reconciliation most years8 of 102026
Budgets most years8 of 102026
Ratios — gearing most years8 of 102026
Fixed asset disposal most years7 of 102025
Cash flow statements most years6 of 102026

More topics: Control accounts, Manufacturing accounts, Marginal costing, Overhead absorption, Product costing, Published accounts, Incomplete records, Tabular statements, Cash budgets, Club accounts, Final accounts, Fixed asset revaluation, Service firms, Cost classification, Flexible budgets, Stock valuation, Ratios — liquidity, Trial balance, Accounting concepts, Capital and revenue expenditure, Departmental accounts, Farm accounts, VAT.

Try three

Correction of errors, 2 marks

A credit sale to J. Walsh posted to J. Welsh's account is an error of…

  1. Principle
  2. Omission
  3. Commission
Show the answer

Commission

Right type of account (a debtor) and right amount, but the wrong person, so the TB still agrees. Correct it: Dr J. Walsh, Cr J. Welsh.

Ratios — investment, 2 marks

A dividend cover of 1 time means…

  1. Profit was exactly twice the size of the dividend paid
  2. All available profit was paid out as dividend
  3. No dividend at all was paid in the year
Show the answer

All available profit was paid out as dividend

Profit available for ordinary shareholders equals the dividend paid, so nothing is retained for growth.

Ratios — interpretation, 2 marks

A falling gross margin could be caused by…

  1. Cutting selling prices
  2. Lower purchase prices
  3. A reduction in rent
Show the answer

Cutting selling prices

Lower selling prices cut gross profit per unit if purchase costs stay the same. Rent comes below gross profit, so it can't affect gross margin.

Practise Accounting HL free

Ordinary Level

300 flash cards and 150 step-by-step drill questions at Ordinary Level.

What comes up

How many of the last 10 Accounting Ordinary Level papers asked each topic.

TopicAskedLast seenHow often
Depreciation banker10 of 102026
Accruals and prepayments banker10 of 102026
Budgets banker10 of 102026
Cash flow statements banker10 of 102026
Ratios — efficiency banker10 of 102026
Ratios — interpretation banker10 of 102026
Ratios — liquidity banker10 of 102026
Ratios — profitability banker10 of 102026
Company final accounts banker9 of 102026
Bad debts and provisions banker9 of 102026
Farm accounts most years6 of 102026
Cash budgets 5 of 102026
Club accounts 5 of 102026
Cost classification 5 of 102026

More topics: Final accounts, Incomplete records, Marginal costing, Overhead absorption, Product costing, Control accounts, Fixed asset disposal, Fixed asset revaluation, Manufacturing accounts, Service firms, Tabular statements, Bank reconciliation, Correction of errors.

Try three

Budgets, 3 marks

2,400 units will be sold. The price rises from €30 to €35. Increase in the sales budget?

  1. €5,000
  2. €84,000
  3. €12,000
Show the answer

€12,000

Before: 2,400 × €30 = €72,000. After: 2,400 × €35 = €84,000. Increase = €12,000 (2,400 × €5).

Accruals and prepayments, 3 marks

A €50,000 loan at 8% was held all year; €2,000 interest was paid. Interest due at the year end?

  1. €6,000
  2. €2,000
  3. €4,000
Show the answer

€2,000

Full year's interest: 8% × €50,000 = €4,000. Paid €2,000, so €4,000 − €2,000 = €2,000 is due (a current liability).

Ratios — liquidity, 3 marks

A current ratio of 5 : 1 may suggest the firm…

  1. Has too much tied up in current assets
  2. Cannot pay its short-term debts
  3. Has too few current assets
Show the answer

Has too much tied up in current assets

Far above the 2 : 1 ideal suggests idle stock, debtors or cash that could earn a better return. A low ratio, not a high one, signals trouble paying debts.

Practise Accounting OL free

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