LGCSE Accounting (0187) Practice Questions - Lesotho General Certificate of Secondary Education Accounting (Syllabus 0187) Exam - LGCSE Accounting (0187) Practice Questions - Lesotho General Certificate of Secondary Education Accounting (Syllabus 0187) Exam

Question 1

What is the main difference between bookkeeping and accounting?

Bookkeeping records transactions; accounting also classifies, summarises, interprets and reports the information Bookkeeping only prepares the statement of financial position; accounting only records cash Accounting is done before bookkeeping in the accounting cycle Bookkeeping requires professional judgment; accounting is purely mechanical

Correct Answer:

Bookkeeping records transactions; accounting also classifies, summarises, interprets and reports the information

Question 2

Which benefit of ICT in bookkeeping and accounting is correctly stated?

Greater speed and accuracy when processing large volumes of transactions Elimination of the need for source documents Guaranteed freedom from all human error Automatic replacement of double-entry rules

Correct Answer:

Greater speed and accuracy when processing large volumes of transactions

Question 3

Accounting information is primarily used to:

Monitor business progress and support decision-making by owners and other users Replace the need for managers entirely Guarantee that a business will make a profit Set national tax rates for the government

Correct Answer:

Monitor business progress and support decision-making by owners and other users

Question 4

Assets are best defined as:

Resources controlled by the business from which future economic benefits are expected Amounts the business owes to outsiders The owner's residual interest after deducting liabilities Day-to-day running costs of the business

Correct Answer:

Resources controlled by the business from which future economic benefits are expected

Question 5

A sole trader in Maseru has assets of M85 000 and liabilities of M27 000. What is the owner's capital?

M58 000 M112 000 M27 000 M85 000

Correct Answer:

M58 000

Question 1

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About this Exam

Prepare with the LGCSE Accounting (0187) Practice Questions - Lesotho General Certificate of Secondary Education Accounting (Syllabus 0187) Exam practice quiz. This question bank includes 100 questions covering credit, balance, year, sales, and account. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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LGCSE Accounting (0187) Practice Questions - Lesotho General Certificate of Secondary Education Accounting (Syllabus 0187) Exam

This practice set contains 100 questions from the matching question bank and focuses on credit, balance, year, sales, and account. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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LGCSE Accounting (0187) Practice Questions - Lesotho General Certificate of Secondary Education Accounting (Syllabus 0187) Exam

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