PracticeVideosBlogFlashcardsEspañol
All Practice Exams

Free Practice Questions for Pancyprian Accounting

Exam-style questions and explanations by OpenExamPrep.

✓ No registration✓ No credit card
100+ Questions
100% Free

Loading practice questions...

Same family resources

Explore More Cyprus Pancyprian Access Examinations

Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.

Cyprus Pancyprian Access Examination Advanced Mathematics

Practice Questions

Cyprus Pancyprian Access Examination Ancient Greek

Practice Questions

Cyprus Pancyprian Access Examination Architectural and Technical Drawing

Practice Questions

Cyprus Pancyprian Access Examination Biology

Practice Questions

Cyprus Pancyprian Access Examination Chemistry

Practice Questions

Cyprus Pancyprian Access Examination Computer Science

Practice Questions
Exam Review

Key Facts: Pancyprian Accounting Exam

025

Official subject code for ΛΟΓΙΣΤΙΚΗ in the 2026 Pancyprian Access Examinations

Cyprus Examinations Service

3 hours

Official examination duration from the 2026 timetable

Cyprus Examinations Service

EUR 25

2026 fee per access subject (not code 032)

Cyprus Examinations Service

0–20

Marking scale for each Pancyprian subject

Cyprus Examinations Service

8–26 June 2026

Examination period of the 2026 Pancyprian Access Examinations

Cyprus Examinations Service

100

Original practice questions in this study bank

OpenExamPrep

Free 100-question English-language MCQ study bank for Pancyprian Accounting (code 025). Official duration: 3 hours (08:00–11:00 per the official 2026 timetable). Official fee: EUR 25.00 per access subject in 2026. This bank is a study aid, not an official translation or format simulation.

Sample Pancyprian Accounting Practice Questions

Try these sample questions to review concepts for the Pancyprian Accounting exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1A sole trader pays the family grocery bill from the business bank account and records it as a business expense. Which accounting concept does this violate?
A.Business entity concept
B.Going concern concept
C.Consistency concept
D.Realisation concept
Explanation: The business entity concept requires the affairs of the business to be kept separate from the personal affairs of the owner. Personal spending paid from the business account should be recorded as drawings, not as a business expense.
2Preparing financial statements on the assumption that the business will continue to operate for the foreseeable future is an application of which concept?
A.Prudence concept
B.Going concern concept
C.Accruals concept
D.Money measurement concept
Explanation: The going concern concept assumes the business will not be wound up in the near future. This justifies valuing non-current assets at cost less depreciation rather than at forced-sale values.
3Under the accruals (matching) concept, the rent expense charged in the income statement for a year is:
A.The total cash paid for rent during the year
B.The rent that relates to the year, whether paid or not
C.The rent paid in advance at the start of the year
D.The rent that will be paid next year
Explanation: The accruals concept matches expenses to the period in which they are incurred, not when cash changes hands. The charge for the year must therefore be adjusted for any rent prepaid or accrued.
4The fundamental rule of double-entry bookkeeping is that:
A.Every transaction must be recorded in the cash book
B.Every transaction is recorded twice in the same account
C.For every debit entry there must be an equal credit entry
D.Every transaction must increase profit
Explanation: Double entry means every transaction has two equal and opposite aspects: a debit in one account and a credit in another account of the same amount. This keeps the accounting equation in balance.
5Closing inventory is valued at the lower of cost and net realisable value. Which accounting concept is being applied?
A.Consistency
B.Materiality
C.Prudence
D.Realisation
Explanation: Valuing inventory at the lower of cost and net realisable value is a classic application of prudence: losses in value are recognised as soon as they are foreseen, while profits are not anticipated.
6A business pays €1,200 on 1 October 2025 for a 12-month insurance policy. Its accounting year ends on 31 December 2025. Under the matching concept, the insurance expense for 2025 is:
A.€1,200
B.€300
C.€900
D.€100
Explanation: Only three months of the policy (October to December) relate to 2025, so the expense is 3/12 × €1,200 = €300. The remaining €900 is a prepayment, shown as a current asset at the year end.
7A retailer delivers goods to a customer on 28 December 2025 and issues the invoice the same day; the customer pays in February 2026. According to the realisation concept, in which year is the revenue recognised?
A.2026, when the cash is received
B.2025, when the goods are delivered and the invoice issued
C.2026, when the customer confirms satisfaction
D.Split equally between 2025 and 2026
Explanation: The realisation concept recognises revenue when it is earned, which for goods is normally on delivery/invoicing, not on receipt of cash. The sale therefore belongs to 2025 and creates a receivable at the 2025 year end.
8A business has used straight-line depreciation for its machinery for three years and continues to do so in year four, even though reducing balance would give a lower profit this year. Which concept is it applying?
A.Consistency
B.Prudence
C.Materiality
D.Business entity
Explanation: The consistency concept requires the same accounting treatment to be applied from one period to the next so that results are comparable. Changing depreciation method just to alter reported profit would breach consistency.
9Which of the following would NOT appear in a business's accounting records under the money measurement concept?
A.The purchase of a delivery van for €18,000
B.The outstanding skill and loyalty of the workforce
C.A bank loan of €10,000 received
D.Inventory costing €4,000
Explanation: The money measurement concept limits the accounts to items that can be expressed objectively in monetary terms. Workforce skill and loyalty cannot be reliably measured in money, so they are not recorded as assets.
10A business has assets of €40,000 and liabilities of €15,000. According to the accounting equation, the owner's capital is:
A.€55,000
B.€25,000
C.€15,000
D.€40,000
Explanation: The accounting equation states Assets = Capital + Liabilities, so Capital = Assets − Liabilities = €40,000 − €15,000 = €25,000.

About the Pancyprian Accounting Exam

The Pancyprian Access Examination in Accounting (code 025, ΛΟΓΙΣΤΙΚΗ) is a centrally set 2026 subject assessment administered by the Examinations Service of the Cyprus Ministry of Education, Sport and Youth for university admission ranking in Cyprus and Greece. A 3-hour written Accounting paper in Greek with theory and numerical bookkeeping tasks. English-language MCQ study adaptation including calculation items; not an official translation or format simulation.

Exam sponsor: Examinations Service, Cyprus Ministry of Education, Sport and Youth. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

A 3-hour written Accounting paper in Greek with theory and numerical bookkeeping tasks. English-language MCQ study adaptation including calculation items; not an official translation or format simulation.

Time Limit

3 hours (08:00–11:00 per the official 2026 timetable)

Passing Score

Marked on a 0–20 scale; no pass mark — feeds the access/ranking grade (βαθμός πρόσβασης) for Cyprus and Greece public university allocation.

Exam / Certification Fees

EUR 25.00 per access subject for 2026 (EUR 50.00 only for Practical Physical Performance Test code 032), payable electronically by card during the official 2–17 April 2026 payment window per Examinations Service notices.

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

20%

Financial Statements

Practice coverage of financial statements mapped to the official Pancyprian syllabus for this subject.

14%

Trial Balance And Adjustments

Practice coverage of trial balance and adjustments mapped to the official Pancyprian syllabus for this subject.

13%

Double Entry Recording

Practice coverage of double entry recording mapped to the official Pancyprian syllabus for this subject.

12%

Accounting Principles

Practice coverage of accounting principles mapped to the official Pancyprian syllabus for this subject.

12%

Depreciation

Practice coverage of depreciation mapped to the official Pancyprian syllabus for this subject.

10%

Journals And Ledgers

Practice coverage of journals and ledgers mapped to the official Pancyprian syllabus for this subject.

19%

Ratio Analysis

Practice coverage of ratio analysis mapped to the official Pancyprian syllabus for this subject.

Preparing for the Pancyprian Accounting Exam

What You Need to Know

  • Passing score: Marked on a 0–20 scale; no pass mark — feeds the access/ranking grade (βαθμός πρόσβασης) for Cyprus and Greece public university allocation.
  • Assessment: A 3-hour written Accounting paper in Greek with theory and numerical bookkeeping tasks. English-language MCQ study adaptation including calculation items; not an official translation or format simulation.
  • Time limit: 3 hours (08:00–11:00 per the official 2026 timetable)
  • Exam / certification fees: EUR 25.00 per access subject for 2026 (EUR 50.00 only for Practical Physical Performance Test code 032), payable electronically by card during the official 2–17 April 2026 payment window per Examinations Service notices. Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Pancyprian Accounting: Suggested Study Strategy

1Read the official 2026 specification row for code 025 (ΛΟΓΙΣΤΙΚΗ) on the Examinations Service guide before drilling MCQs.
2After each wrong answer, rewrite the rule or concept in your own words with one new example.
3Schedule weekly timed practice with official past papers so you build the non-MCQ skills the real paper requires.
4Track weak categories from this bank and re-test them after 48 hours.
5Confirm logistics (centre, materials, language of response) from panexams.moec.gov.cy announcements, not from third-party summaries.

Frequently Asked Questions

Is this the official Pancyprian Accounting exam?

No. The official assessment is administered by the Cyprus Examinations Service as a constructed-response, drawing, performance or mixed paper under code 025. This bank is a free English-language MCQ study adaptation for revision; practise every required non-MCQ component with official past papers and the specification.

How is the subject marked?

Like all Pancyprian access subjects it is marked on a 0–20 scale. There is no pass mark; the grade contributes to the access/ranking grade used for admission to public universities in Cyprus and Greece.

What is the 2026 exam fee?

EUR 25.00 per access subject (EUR 50.00 only for Practical Physical Performance Test code 032), payable by card in the official 2–17 April 2026 window, with exemptions for specified groups.

Who can sit this examination?

Final-year student or graduate of a Cyprus public secondary school (lyceum cycle), the English School Nicosia, a licensed private school, or an equivalent foreign upper-secondary school (with certification), within Examinations Service nationality/residence rules. Applications are electronic; un-promoted final-year students with 135+ absences are excluded.

Why is the practice bank in English?

OpenExamPrep publishes one English-language practice URL per exam. Where the tested skill is another language, stems/options may retain that language while explanations stay in English. The bank is not an official translation of the Greek (or other) exam environment.

How should I use this bank with official materials?

Use the bank to diagnose weak syllabus areas, then switch to Θέματα - Λύσεις and the official specification on panexams.moec.gov.cy for timed written, drawing or performance practice that this bank does not simulate.