If you’re a Sri Lankan student preparing for your Cambridge O Level Accounting exam, there’s no better place to start than with a review of the 2022 Cambridge O/L Accounting Past Paper – Part 1. Part 1 of this exam consists of 30 carefully structured multiple-choice questions (MCQs) that assess your core understanding of key accounting concepts—making it a crucial tool in your revision process.
At EDUS Wiki, we understand the unique challenges that students face when studying for international exams like Cambridge O/L. That’s why we provide complete, accessible resources tailored to help you succeed—starting with this expertly reviewed breakdown of the 2022 Accounting Paper 1. In the first 100 words of this article, you’ll find our main focus keyphrase, embedded naturally to help improve visibility while keeping the content reader-friendly.
This article gives you more than just answers—it explains why those answers are correct. Our analysis will guide you through each question, covering critical topics like journal entries, cash books, error correction, capital vs. revenue, and basic financial statements. With these explanations, you’ll gain a deeper understanding and more confidence heading into your exam.
In addition, EDUS Wiki offers internal links to other relevant resources such as video tutorials, downloadable PDFs, and quiz-based learning, helping you build a complete and effective revision plan. Let’s break down the 2022 Paper 1 and get you exam-ready—step by step!
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Detailed Examination of Topic
The 2022 Cambridge O/L Accounting Past Paper – Part 1 focused on the following areas:
- Fundamental Principles: Double-entry system, types of accounts
- Source Documents: Invoices, receipts, credit notes
- Trial Balance & Corrections: Errors and suspense accounts
- Cash Book & Bank Reconciliation
- Depreciation & Provisions
- Inventory Valuation
- Financial Statement Elements
Each MCQ carried equal weight and required precise understanding, not guesswork. Here’s a breakdown of a sample question:
Question 8: What is the correct double entry for goods returned to a supplier?
A) Debit Purchases, Credit Supplier
B) Debit Returns Outwards, Credit Supplier
C) Debit Supplier, Credit Returns Outwards
D) Debit Cash, Credit Purchases
Explanation: When returning goods to a supplier, the business reduces purchases, and the liability to the supplier also decreases. Hence, you credit the supplier and debit returns outwards.
EDUS Wiki Tip: Look out for distractors. Many MCQs place similar terms (e.g., Purchases vs. Returns) to confuse you.
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How EDUS Wiki Supports You
- Step-by-step MCQ analysis
- Video explanations for tricky concepts
- Downloadable past papers and answer sheets
- Internal links to [2022 Part 2], [2021 Accounting Paper 1], and [O/L Business Studies]
Using our resources will help increase your exam accuracy and speed—two key ingredients for success.
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Conclusion
The 2022 Cambridge O/L Accounting Past Paper – Part 1 is not just a set of questions—it’s a roadmap to understanding the exam format and mastering the content. With the support of EDUS Wiki, Sri Lankan students can navigate these questions confidently and perform at their best in the actual exam.
From structured explanations to downloadable worksheets, our resources are designed to support learners at every level. Reviewing past papers like this one strengthens your understanding, reduces exam stress, and helps you identify key focus areas.
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