Preparing for the 2021 Cambridge O/L Accounting Past Paper – Part 2 can be a turning point in your exam journey. Unlike Paper 1, which is multiple-choice based, Paper 2 focuses on structured and scenario-based questions, testing your depth of understanding and your ability to apply concepts in real-world financial situations.
For many Sri Lankan students, this paper is both a challenge and an opportunity—it tests not just memory, but also analytical skills, accuracy in presentation, and time management. That’s where EDUS Wiki steps in. We offer this valuable past paper along with step-by-step solutions, key topic mapping, and expert breakdowns, so you can revise with clarity and confidence.
This article will guide you through the structure of Paper 2, including typical question formats, how to approach different sections (e.g., ledger entries, trial balance, income statements), and how marks are awarded. Our aim is to help you maximize each answer and avoid common errors.
By practicing this past paper with our insights, students build not only exam readiness but also essential accounting habits that will support them in higher studies and careers. EDUS Wiki ensures every concept is revisited and reinforced using real past exam content.
Stay with us as we break down the 2021 Part 2 paper, one section at a time—making your revision smarter, not harder.
Detailed Examination of Topic
Cambridge O/L Accounting Paper 2 in 2021 presented a combination of structured questions that assessed both theory and practical skills. This paper typically includes five to six main questions with multiple sub-parts, focusing on:
- Journal entries and ledger postings
- Preparation of income statements and balance sheets
- Correction of errors and suspense accounts
- Accounting for depreciation and accruals
- Cash books, bank reconciliation, and control accounts
Each question carries significant weight, making it vital to understand the marking criteria and question pattern. Unlike MCQs, these responses must include accurate working, clear formats, and labeled answers.
2021 Cambridge O/L Accounting Past Paper – Part 2
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Key Areas to Focus:
- Practice presenting neatly formatted financial statements
- Understand how to show double-entry transactions
- Focus on time management to handle all questions within the 2-hour exam limit
- Learn how marks are distributed—some parts are theory-based, while others require calculations
EDUS Wiki Tools for You:
- Free PDF download of 2021 Paper 2
- Answer scripts with workings explained
- Topic tagging (e.g., “Depreciation” or “Error Correction”) for focused revision
- Guidelines on presentation skills for O/L students
This detailed exposure helps Sri Lankan students predict question types, simulate exam conditions, and develop confidence when tackling complex scenarios in accounting.
The 2021 Cambridge O/L Accounting Past Paper – Part 2 is essential for mastering the structured, application-focused section of your O/L exam. By reviewing and solving this past paper, students gain hands-on experience with exam-standard scenarios and refine their ability to present well-structured, high-scoring answers.
EDUS Wiki supports you not only with the paper itself but with professional insights, topic-based strategies, and smart revision methods tailored for Sri Lankan students. Your journey to exam success begins with strong preparation, and there’s no better way to start than with actual past papers and guided help.
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