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Subjects · Leaving Cert Accounting

Leaving Cert Accounting: Budgets

How often Budgets comes up on the Accounting papers, every year it was asked, and questions to try.

HL Asked on 8 of the last 10 Higher Level papers, most recently in 2026. most years

OL Asked on 10 of the last 10 Ordinary Level papers, most recently in 2026. banker

Budgets, Higher Level(6 marks)

Quick ones on Budgets.

(a)Units to produce = sales + closing stock − …
  1. Closing stock
  2. Opening stock
  3. Sales returns
(b)Sales 1,000 units; opening stock 200; required closing stock 300. Production?
  1. 1,500 units
  2. 900 units
  3. 1,100 units
(c)The budget usually prepared first, because it limits the others, is the…
  1. Sales budget
  2. Master budget
  3. Cash budget
Show the answers

(a) Opening stock

(b) 1,100 units

(c) Sales budget

Your turn: Higher Level questions on Budgets.

Higher Level

Asked on 8 of the last 10 Higher Level papers, most recently in 2026. most years

Every paper, year by year

YearWhere it came up
2026Q9
2025Q9
2024Q9
2023Q9
2022Q9
2021Not asked
2019Q9
2018Not asked
2017Q9
2016Q9

Links open the State Examinations Commission’s paper for that year.

More Budgets questions

Budgets, 2 marks

Budgetary control means…

  1. Preparing the final accounts and balance sheet at the year end
  2. Auditing the accounts to find fraud and errors
  3. Comparing actual results with budget and acting on variances
Show the answer

Comparing actual results with budget and acting on variances

Actual results are compared with the budget, variances are found, their causes investigated and corrective action taken.

Budgets, 2 marks

The flexed budget for a cost is based on…

  1. Last year's output
  2. The actual level of output
  3. The originally budgeted output
Show the answer

The actual level of output

Comparing actual costs with a budget adjusted to the actual output gives a fair like-for-like comparison.

Budgets, 2 marks

Management by exception means…

  1. Concentrating on significant variances
  2. Checking every cost with equal care
  3. Ignoring the budget unless it is exceeded
Show the answer

Concentrating on significant variances

Managers focus their time on large variances that need action, instead of every small difference from budget.

Ordinary Level

Asked on 10 of the last 10 Ordinary Level papers, most recently in 2026. banker

Every paper, year by year

YearWhere it came up
2026Q9
2025Q9
2024Q9
2023Q9
2022Q9
2021Q9
2019Q9
2018Q9
2017Q9
2016Q9

Links open the State Examinations Commission’s paper for that year.

More Budgets questions

Budgets, 3 marks

Budgeted sales 5,000 units; opening stock 800 units; closing stock 500 units. Units to produce?

  1. 5,300 units
  2. 6,300 units
  3. 4,700 units
Show the answer

4,700 units

Production = sales + closing stock − opening stock = 5,000 + 500 − 800 = 4,700 units.

Budgets, 3 marks

Production 2,500 units; each unit takes 3 labour hours. Labour hours needed?

  1. 5,500 hours
  2. 7,500 hours
  3. 833 hours
Show the answer

7,500 hours

2,500 units × 3 hours = 7,500 labour hours.

Budgets, 3 marks

Sales budget €90,000; selling price €30 per unit. Units to be sold?

  1. 3,000 units
  2. 2,700,000 units
  3. 300 units
Show the answer

3,000 units

Units = sales value ÷ price per unit = €90,000 ÷ €30 = 3,000 units.

Other Accounting topics

All of Leaving Cert Accounting