Mock exam paper B P1 Section A Higher Level

WARNING

Name

Class

Teacher

School

This Question Paper MUST be returned with

your answer book at the end of the

Examination, otherwise marks will be lost.

_____________

PRE - JUNIOR CERTIFICATE EXAMINATION, 2012

_____________________

BUSINESS STUDIES – HIGHER LEVEL – PAPER I

Section A

(80 marks)

TIME: 2 ½ HOURS

Answer all 20 questions. Each question carries 4 marks.

Calculators may be used.

Make and Model of Calculator Used:

OVER

SECTION A

(80 marks)

Answer all 20 questions. Each question carries 4 marks

1. Fill in the drawer, drawee and payee for the following transaction in the appropriate spaces below.

On the 2nd of January 2012, Mary Ryan, who has a current account in A.I.B. Ennis paid €310 by cheque to Joan Madden.

Drawer

Drawee

Payee

2. Explain the term Utmost Good Faith in relation to insurance

_________________________________________________________________________

__________________________________________________________________________

__________________________________________________________________________

__________________________________________________________________________

3. Enter the following balances in the partially completed General Journal of Smyth Ltd.

1 January 2012 Stock 28,000

Bank Overdraft 3,000

Smyth Ltd.- General Journal

Date

Details

F

Dr

Cr

Buildings

GL1

200,000

4. A €60 investment matured to €63 after 6 months. Calculate the annual % return.

Workings

workings

Answer

____________________________________

%

5. Mary buys an item on eBay for £94 Sterling. She goes to the bank to change euro into a sterling draft and sees the following rates quoted on the display board.

Currency

Bank Sells

Bank Buys

Sterling

0.89

0.92

Calculate the amount in euro that Mary will pay for £94 sterling

SHOW W...

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