The 2022 Cambridge O/L Accounting Past Paper – Part 1 is a crucial assessment tool for students who are preparing for their O Level exams, particularly those in Sri Lanka following the Cambridge curriculum. This paper, which consists mainly of Multiple Choice Questions (MCQs), tests your knowledge of fundamental accounting principles, business transactions, and financial record-keeping.
For many Sri Lankan students, this section is an excellent opportunity to earn quick marks—if properly prepared. But even a small mistake in understanding accounting terms or formulas can cost valuable points. That’s why reviewing the Cambridge O/L Accounting Past Paper 2022 – Part 1 is not just recommended, it’s essential.
At EDUS Wiki, we go beyond just sharing past papers. We provide complete walkthroughs, explanations, and smart strategies to approach each question. Whether it’s identifying the correct ledger entries or understanding depreciation methods, our breakdown of Paper 1 gives you the tools to answer faster and more accurately.
By revisiting the 2022 questions, you’ll strengthen your foundation and spot the most common traps and mistakes. You’ll also learn how the Cambridge marking scheme works, which helps you avoid errors and earn every possible mark.
Let’s dive into an in-depth look at what this paper included, and how EDUS Wiki supports your journey toward O/L accounting mastery. With the right approach and resources, success in Paper 1 is entirely within your reach.
Detailed Examination of Topic
Breakdown of 2022 Cambridge O/L Accounting Past Paper – Part 1
The Part 1 paper in 2022 consisted of 40 multiple choice questions, covering all key areas of the syllabus. Each question was worth one mark, making this section worth 40% of the total score. A strong performance in this section is vital for achieving an A or A* grade.
Major Topics Covered:
- Double-entry bookkeeping
- Business documents (invoice, debit note, credit note)
- Types of accounts: real, nominal, and personal
- Trial balance and correction of errors
- Control accounts and suspense accounts
- Financial statements
- Depreciation and provisions
- Capital vs revenue expenditure
- Bank reconciliation
- Inventory valuation methods (FIFO, LIFO)
Each question challenged students to apply theoretical knowledge in real-world accounting scenarios. While some questions were direct, others required deep understanding and careful reading.
Why Students Struggle with Paper 1
- Rushing through questions without understanding the options
- Confusing similar accounting terms
- Weak understanding of the accounting cycle
- Limited time spent on past paper practice
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How EDUS Wiki Helps You Succeed
At EDUS Wiki, we provide:
- Fully solved 2022 Paper 1 with explanations
- Model answer keys and marking schemes
- Topic-wise breakdown of MCQs
- Quick revision notes for high-frequency question types
- Free downloadable PDFs for offline practice
In addition, you’ll find internal links to related articles such as:
- [Double-entry bookkeeping explained]
- [Top 10 O/L accounting exam mistakes to avoid]
- [How to score full marks in Paper 1]
Our content is designed for mobile access, making it easy for Sri Lankan students to revise anytime, anywhere.
Conclusion
The 2022 Cambridge O/L Accounting Past Paper – Part 1 offers valuable insights into how questions are structured and what examiners expect. Reviewing this paper with EDUS Wiki not only sharpens your accounting skills but also boosts your confidence ahead of exams.
Make the most of our fully explained answers, practice resources, and expert tips. Whether you’re aiming for a pass or pushing toward an A*, the key is smart preparation—and EDUS Wiki is here to guide you every step of the way.
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Download the full paper, check your answers, and explore more past paper breakdowns and revision tools only on EDUS Wiki. Your success starts with the right support!