Subjects · Leaving Cert Accounting
Leaving Cert Accounting: Incomplete records
How often Incomplete records comes up on the Accounting papers, every year it was asked, and questions to try.
HL Asked on 5 of the last 10 Higher Level papers, most recently in 2025.
OL Asked on 5 of the last 10 Ordinary Level papers, most recently in 2026.
Quick ones on Incomplete records.
- Closing stock value at the end of the year
- Capital at a given date (e.g. opening capital)
- Total sales for the year
- €10,000
- €16,000
- €12,000
- €10,000
- €40,000
- €12,500
Show the answers
(a) Capital at a given date (e.g. opening capital)
(b) €12,000
(c) €10,000
Higher Level
Asked on 5 of the last 10 Higher Level papers, most recently in 2025.
Every paper, year by year
| Year | Where it came up |
|---|---|
| 2026 | Not asked |
| 2025 | Q6 |
| 2024 | Not asked |
| 2023 | Q2 |
| 2022 | Q6 |
| 2021 | Not asked |
| 2019 | Not asked |
| 2018 | Q3 |
| 2017 | Not asked |
| 2016 | Q4 |
Links open the State Examinations Commission’s paper for that year.
More Incomplete records questions
Incomplete records, 2 marks
Net assets rose by €12,000; drawings were €18,000; no new capital. Net profit?
- €6,000
- €12,000
- €30,000
Show the answer
€30,000
Net profit = increase in net assets + drawings − new capital = €12,000 + €18,000 − €0 = €30,000.
Incomplete records, 2 marks
Stock that should be on hand €25,000; stock salvaged €4,000. Stock lost?
- €25,000
- €21,000
- €29,000
Show the answer
€21,000
€25,000 − €4,000 salvaged = €21,000 lost, e.g. in a fire. This is the basis of the insurance claim.
Incomplete records, 2 marks
Incomplete records usually arise because the trader…
- Does not keep a full double-entry system
- Is a limited company owned by shareholders
- Is registered for VAT with Revenue
Show the answer
Does not keep a full double-entry system
Without full records, profit is found by comparing opening and closing capital (statements of affairs) or rebuilding the accounts.
Ordinary Level
Asked on 5 of the last 10 Ordinary Level papers, most recently in 2026.
Every paper, year by year
| Year | Where it came up |
|---|---|
| 2026 | Q4 |
| 2025 | Not asked |
| 2024 | Q7 |
| 2023 | Not asked |
| 2022 | Q2 |
| 2021 | Not asked |
| 2019 | Q2 |
| 2018 | Not asked |
| 2017 | Q3 |
| 2016 | Not asked |
Links open the State Examinations Commission’s paper for that year.
More Incomplete records questions
Incomplete records, 3 marks
Assets €80,000; liabilities €25,000. Capital?
- €105,000
- €25,000
- €55,000
Show the answer
€55,000
Capital = assets − liabilities = €80,000 − €25,000 = €55,000.
Incomplete records, 3 marks
Opening capital €30,000; closing capital €42,000; drawings €8,000; no new capital. Net profit?
- €12,000
- €20,000
- €4,000
Show the answer
€20,000
Net profit = closing capital − opening capital + drawings = €42,000 − €30,000 + €8,000 = €20,000.
Incomplete records, 2 marks
The net worth method finds profit from the change in…
- Capital
- Stock
- Sales
Show the answer
Capital
Change in capital (net worth), adjusted for drawings and new capital, gives the net profit or loss.
Other Accounting topics
- Accruals and prepayments
- Bad debts and provisions
- Budgets
- Cash flow statements
- Correction of errors
- Depreciation
- Ratios — efficiency
- Ratios — interpretation
- Ratios — investment
- Ratios — liquidity
- Ratios — profitability
- Company final accounts
- Bank reconciliation
- Ratios — gearing
- Fixed asset disposal
- Control accounts
- Farm accounts
- Manufacturing accounts
- Marginal costing
- Overhead absorption
- Product costing
- Published accounts
- Cash budgets
- Club accounts
- Cost classification
- Final accounts
- Tabular statements
- Fixed asset revaluation
- Service firms
- Flexible budgets
- Stock valuation
- Trial balance
- Accounting concepts
- Capital and revenue expenditure
- Departmental accounts
- VAT