For students in Sri Lanka preparing for the Cambridge O Level Accounting examination, Paper 2 plays a crucial role in determining your final grade. Unlike Paper 1, which focuses on multiple-choice questions, Paper 2 of the 2020 Cambridge O/L Accounting Past Paper features structured questions that assess your deep understanding, analytical thinking, and application of accounting concepts. Practicing this paper is not only vital for exam success but also for mastering real-life accounting skills.
The 2020 Cambridge O/L Accounting Past Paper – Part 2 includes practical tasks such as preparing ledger accounts, interpreting financial statements, and explaining accounting concepts in clear, logical formats. This is where students often need guided practice, as the structured nature of questions demands clarity, accuracy, and strong foundational knowledge.
That’s where EDUS Wiki becomes your trusted partner. This article provides a detailed breakdown of the 2020 Part 2 paper, question-by-question solutions, common student errors, and examiner expectations. We help you understand how to write perfect answers that score full marks. Whether you’re revising alone or with a tutor, our expert commentary will help you avoid common pitfalls and build confidence in structured question formats.
We’ve designed this content especially for Sri Lankan Cambridge O/L students, combining syllabus-focused insights with practical revision tools. You’ll also find downloadable resources and links to other helpful past papers and model answers on EDUS Wiki.
Let’s explore the 2020 Cambridge O/L Accounting Part 2 and strengthen your path to success.
Detailed Examination of Topic
In-Depth Analysis of the 2020 Paper 2 Structured Questions
The 2020 Cambridge O Level Accounting Paper 2 presented five major structured questions covering a wide range of syllabus areas. Each required precision, logical sequencing, and neat formatting to score top marks.
1. Ledger Entries and Double Entry Adjustments
- Students were asked to prepare ledger accounts such as Capital, Drawings, and Sales.
- Adjustments included correcting errors, accruals, and prepayments.
- Common Issue: Misplacing opening balances and confusing credit/debit entries.
- EDUS Wiki Tip: Always check the transaction dates and narrations before posting.
2. Source Documents and Prime Entry Books
- One question required identifying source documents and showing how they relate to accounting records.
- Tested real-life application of theory to practice.
- Learning Focus: Link source to corresponding book (e.g., Receipt → Cash Book).
3. Trial Balance and Error Identification
- Students had to complete a Trial Balance and correct given errors using a suspense account.
- Strategy: Learn to spot omission vs reversal vs principle errors using EDUS Wiki’s error chart.
4. Income Statement and Statement of Financial Position
- Required preparation of full financial statements for a sole trader.
- Marks Distribution: Heavy focus on accuracy of figures and correct layout (titles, subtotals, formats).
- EDUS Resource: Download our “Financial Statements Format PDF” to avoid formatting mistakes.
5. Short Explanation Questions
- These covered accounting theory and real-life scenarios (e.g., benefits of keeping a petty cash book).
- Marks were awarded for clarity, keyword use, and structured writing.
2020 Cambridge O/L Accounting Past Paper – Part 2
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Support from EDUS Wiki
- Model answers with step-by-step workings
- Examiner tips and past paper marking schemes
- Cross-links to Paper 1 of 2020, 2021 papers, and Accounting quizzes
Conclusion
The 2020 Cambridge O/L Accounting Past Paper – Part 2 offers students the chance to apply theory in practical contexts, reinforcing essential accounting skills. By practicing these structured questions with correct methods and formats, Sri Lankan students can significantly boost their confidence and scores in the real exam.
At EDUS Wiki, we’re committed to supporting your success. With expert-guided answers, downloadable resources, and helpful exam tips, we help you prepare smarter, not harder. Don’t wait until the last minute—start solving past papers regularly and watch your improvement grow.
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