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Subjects · Leaving Cert Accounting

Leaving Cert Accounting: Company final accounts

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

HL Asked on 9 of the last 10 Higher Level papers, most recently in 2026. banker

OL Asked on 9 of the last 10 Ordinary Level papers, most recently in 2026. banker

Company final accounts, Higher Level(6 marks)

Quick ones on Company final accounts.

(a)Preference shareholders usually receive…
  1. A vote on all matters
  2. A fixed rate of dividend
  3. Whatever profit is left over
(b)Ordinary shareholders are the company's…
  1. Suppliers of goods on credit
  2. Long-term lenders (creditors)
  3. Owners, with voting rights
(c)Authorised share capital is…
  1. The maximum shares a company may issue
  2. The shares that are fully paid up
  3. The shares actually issued to date
Show the answers

(a) A fixed rate of dividend

(b) Owners, with voting rights

(c) The maximum shares a company may issue

Your turn: Higher Level questions on Company final accounts.

Higher Level

Asked on 9 of the last 10 Higher Level papers, most recently in 2026. banker

Every paper, year by year

YearWhere it came up
2026Q1
2025Q1
2024Q1
2023Q1
2022Q1
2021Q1
2019Q1
2018Q1
2017Not asked
2016Q1

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

More Company final accounts questions

Company final accounts, 2 marks

Shares in another company held long term are shown as…

  1. Current liabilities
  2. Revenue reserves
  3. Financial fixed assets
Show the answer

Financial fixed assets

They are held long term, not for trading, so they are fixed assets. Short-term investments would be current assets.

Company final accounts, 2 marks

Called-up share capital is…

  1. Share capital plus the share premium received on issue
  2. The part of issued capital shareholders have been asked to pay
  3. The maximum share capital the company is allowed to issue by law
Show the answer

The part of issued capital shareholders have been asked to pay

E.g. 100,000 €1 shares issued with 80c per share called up gives called-up capital of €80,000.

Company final accounts, 2 marks

500,000 €1 shares issued at €1.20 each. Share premium?

  1. €100,000
  2. €600,000
  3. €120,000
Show the answer

€100,000

Premium per share = €1.20 − €1.00 = €0.20. 500,000 × €0.20 = €100,000, credited to the share premium account.

Ordinary Level

Asked on 9 of the last 10 Ordinary Level papers, most recently in 2026. banker

Every paper, year by year

YearWhere it came up
2026Q1
2025Q1
2024Q1, Q4
2023Q1
2022Q1
2021Q1
2019Q1
2018Not asked
2017Q1
2016Q1, Q3

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

More Company final accounts questions

Company final accounts, 3 marks

200,000 €1 ordinary shares; dividend of 10c per share. Total ordinary dividend?

  1. €2,000
  2. €200,000
  3. €20,000
Show the answer

€20,000

200,000 shares × €0.10 = €20,000.

Company final accounts, 3 marks

Authorised share capital €500,000; issued share capital €350,000. Unissued shares?

  1. €350,000
  2. €150,000
  3. €850,000
Show the answer

€150,000

Unissued = authorised − issued = €500,000 − €350,000 = €150,000. They can be issued later to raise more capital.

Company final accounts, 2 marks

Corporation tax is a tax on a company's…

  1. Profits
  2. Sales of goods
  3. Employees' wages
Show the answer

Profits

Corporation tax is charged on company profits. VAT is on sales; PAYE is on wages.

Other Accounting topics

All of Leaving Cert Accounting