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Exam Review

Key Facts: Pancyprian TS Accounting Exam

518

Official subject code for ΛΟΓΙΣΤΙΚΗ Τ.Σ. (Π.Κ.) in the 2026 Pancyprian Access Examinations

Cyprus Examinations Service

2.5 hours

Official examination duration (08:00–10:30) 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 Technical School Accounting Practical Direction (code 518). Official duration: 2.5 hours (08:00–10:30). Official fee: EUR 25.00 per access subject in 2026. Distinct from lyceum Accounting code 025. This bank is a study aid, not an official translation or format simulation.

Sample Pancyprian TS Accounting Practice Questions

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

1A Technical School workshop buys raw materials on credit from supplier Costa for €1,250. The correct double entry is:
A.Debit Purchases €1,250; Credit Costa €1,250
B.Debit Costa €1,250; Credit Purchases €1,250
C.Debit Purchases €1,250; Credit Bank €1,250
D.Debit Inventory €1,250; Credit Sales €1,250
Explanation: A credit purchase increases purchases (debit) and creates a liability to the supplier (credit Costa). Bank is not affected because no cash has left the business yet.
2Goods are sold on credit to customer Andreas for €980. The correct double entry is:
A.Debit Sales €980; Credit Andreas €980
B.Debit Andreas €980; Credit Sales €980
C.Debit Bank €980; Credit Sales €980
D.Debit Purchases €980; Credit Andreas €980
Explanation: A credit sale creates a receivable (debit Andreas) and records sales income (credit Sales). Cash/bank is unaffected until the customer pays.
3The owner of a sole-trader garage withdraws €600 from the business bank account for personal use. The correct double entry is:
A.Debit Drawings €600; Credit Bank €600
B.Debit Bank €600; Credit Drawings €600
C.Debit Wages €600; Credit Bank €600
D.Debit Capital €600; Credit Drawings €600
Explanation: Owner withdrawals are debited to Drawings and credited to Bank. Drawings are later deducted from capital in the statement of financial position.
4A business pays a credit supplier €450 by bank transfer. The correct double entry is:
A.Debit Bank €450; Credit Supplier €450
B.Debit Supplier €450; Credit Bank €450
C.Debit Purchases €450; Credit Bank €450
D.Debit Supplier €450; Credit Purchases €450
Explanation: Paying a supplier reduces the liability (debit Supplier) and reduces bank (credit Bank). Purchases were already recorded when the goods were bought.
5Customer Maria settles her €720 account by bank transfer. The correct double entry is:
A.Debit Maria €720; Credit Bank €720
B.Debit Bank €720; Credit Maria €720
C.Debit Bank €720; Credit Sales €720
D.Debit Sales €720; Credit Maria €720
Explanation: Receipt from a credit customer increases bank (debit Bank) and clears the receivable (credit Maria). Sales were already credited when the sale was made.
6Equipment costing €4,800 is purchased for cash. The correct double entry is:
A.Debit Purchases €4,800; Credit Cash €4,800
B.Debit Equipment €4,800; Credit Cash €4,800
C.Debit Cash €4,800; Credit Equipment €4,800
D.Debit Equipment €4,800; Credit Capital €4,800
Explanation: Buying a non-current asset for cash debits the asset account Equipment and credits Cash. Purchases are used for goods intended for resale, not for equipment.
7Goods previously sold on credit for €200 are returned by the customer. The correct double entry is:
A.Debit Sales Returns €200; Credit Customer €200
B.Debit Customer €200; Credit Sales Returns €200
C.Debit Purchases Returns €200; Credit Customer €200
D.Debit Sales €200; Credit Bank €200
Explanation: Sales returns reduce income (debit Sales Returns) and reduce the receivable (credit Customer). Purchases returns relate to goods sent back to suppliers, not customer returns.
8A business returns goods costing €175 to a credit supplier. The correct double entry is:
A.Debit Purchases Returns €175; Credit Supplier €175
B.Debit Supplier €175; Credit Purchases Returns €175
C.Debit Sales Returns €175; Credit Supplier €175
D.Debit Supplier €175; Credit Purchases €175
Explanation: Returning goods to a supplier reduces the liability (debit Supplier) and is recorded as Purchases Returns (credit). Keeping a separate returns account preserves the original purchases total for analysis.
9Rent of €900 is paid in cash for the month. The correct double entry is:
A.Debit Cash €900; Credit Rent Expense €900
B.Debit Rent Expense €900; Credit Cash €900
C.Debit Rent Expense €900; Credit Capital €900
D.Debit Drawings €900; Credit Cash €900
Explanation: Paying rent increases an expense (debit Rent Expense) and decreases cash (credit Cash). It is a business expense, not drawings or a capital reduction.
10Interest of €55 is received into the business bank account. The correct double entry is:
A.Debit Interest Income €55; Credit Bank €55
B.Debit Bank €55; Credit Interest Income €55
C.Debit Bank €55; Credit Capital €55
D.Debit Drawings €55; Credit Interest Income €55
Explanation: Bank interest received increases the bank asset (debit Bank) and records other income (credit Interest Income).

About the Pancyprian TS Accounting Exam

The Pancyprian Access Examination in Technical School Accounting (Practical Direction) (code 518, ΛΟΓΙΣΤΙΚΗ Τ.Σ. (Π.Κ.)) 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 2.5-hour written Technical School Accounting paper in Greek with theory and numerical bookkeeping tasks. English-language MCQ study adaptation including double-entry and financial-statement calculation items; not an official translation or format simulation. It is distinct from lyceum Accounting (code 025).

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 2.5-hour written Technical School Accounting paper (practical direction) in Greek with theory and numerical bookkeeping tasks. English-language MCQ study adaptation including double-entry and financial-statement calculation items; not an official translation or format simulation. Distinct from lyceum Accounting code 025.

Time Limit

2.5 hours (08:00–10:30 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.

18%

Double Entry Recording

Practice coverage of practical double-entry journalising and ledger posting for Technical School Accounting (Π.Κ.).

18%

Financial Statements

Practice coverage of income statement and statement of financial position preparation with real numerical workings.

14%

Journals And Ledgers

Practice coverage of books of original entry, day books, cash book and ledger balancing.

14%

Trial Balance And Adjustments

Practice coverage of trial balances, accruals, prepayments and year-end adjusting entries.

12%

Control Accounts And Reconciliations

Practice coverage of sales/purchases ledger control accounts and bank reconciliations.

10%

Depreciation

Practice coverage of straight-line and reducing-balance depreciation calculations and entries.

8%

Inventory And Cost Of Sales

Practice coverage of inventory valuation, cost of sales and gross profit calculations.

6%

Ratio Analysis

Practice coverage of profitability, liquidity and efficiency ratios from financial statement figures.

Preparing for the Pancyprian TS 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 2.5-hour written Technical School Accounting paper (practical direction) in Greek with theory and numerical bookkeeping tasks. English-language MCQ study adaptation including double-entry and financial-statement calculation items; not an official translation or format simulation. Distinct from lyceum Accounting code 025.
  • Time limit: 2.5 hours (08:00–10:30 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 TS Accounting: Suggested Study Strategy

1Read the official 2026 specification row for code 518 (ΛΟΓΙΣΤΙΚΗ Τ.Σ. (Π.Κ.)) on the Examinations Service guide before drilling MCQs — do not confuse it with lyceum code 025.
2Drill every double-entry and financial-statement calculation by hand; the official paper rewards accurate numerical bookkeeping.
3After each wrong answer, rewrite the rule or concept in your own words with one new worked example.
4Schedule weekly timed practice with official past papers so you build the non-MCQ skills the real 2.5-hour paper requires.
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 Technical School Accounting (Practical Direction) exam?

No. The official assessment is administered by the Cyprus Examinations Service as a constructed-response written paper under code 518. 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 code 518 different from lyceum Accounting code 025?

Code 518 is ΛΟΓΙΣΤΙΚΗ Τ.Σ. (Π.Κ.) — Technical School Accounting in the practical direction — with a 2.5-hour paper. Code 025 is lyceum ΛΟΓΙΣΤΙΚΗ with a 3-hour paper. They are separate Pancyprian subject codes; do not treat this bank as a substitute for 025.

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. Code 518 is aimed at Technical School practical-direction Accounting candidates. 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 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 practice that this bank does not simulate.