Mock exam paper C P1 Section B Higher Level
PRE - JUNIOR CERTIFICATE EXAMINATION, 2013
BUSINESS STUDIES – HIGHER LEVEL – PAPER I
TIME: 2 ½ HOURS
- All questions carry equal marks.
- Attempt any FOUR questions.
- Marks will be awarded for layout and presentation including, where appropriate, folios and dates.
- Dates should show the day, month and year.
- Calculators may be used.
1. This is a Household Budget Question.
Answer all parts of this question
When the Murphy household checked their Analysed Cash Book at the end of December 2012, they discovered that their actual income and Expenditure for the 12 months differed from the budgeted figures (contained in the budget comparison statement on page 12 of Section A) due to the following:
- The salaries of the Murphy household decreased by 24%.
- There are three children in the household. The monthly child benefit increased by €10 per child
From 1 March 2012.
- The actual interest received for the year was 180 less than budgeted.
- The Murphy household received €2,500 from the sale of an old piano.
- Mortgagee repayments increased from €900 to €975 per month from 1 August 2012 and then
Decreased by €50 per month from 1 November 2012.
- Car Insurance was €240 less than budgeted.
- The Murphy household installed house alarms, hence reducing their house insurance by 7%.
- Household costs were 10% greater than budgeted.
- Car costs were €15 euro greater then budgeted.
- Clothing and footwear costs were €100 less then budgeted.
- Light and heat costs were 15% greater than budgeted.
- Heath insurance was 9% greater than budgeted, due to an increase by the insurance company.
- Holiday plans were changed and cost €1,500 less than budgeted.
(A) Using the Budget Comparison Staement on page 12 of section A, enter the appropraite figures into the ‘Actual’ column. (22 Marks)
Show the difference between the ‘Actual’ and ‘Budget’ figures by completing the column marked ‘Difference’. Use a plus or minus sign in front of each figure in that column.
Note: Use ‘plus’ sign...