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110+ Free LGCSE Accounting (0187) Practice Questions

Prepare for the Lesotho General Certificate of Secondary Education Accounting (Syllabus 0187) exam with instant access — no signup required.

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Key Facts: LGCSE Accounting (0187) Exam

0187

Official ECoL syllabus code for LGCSE Accounting

ECoL / NCDC Accounting syllabus

1 h 15 min / 50 marks

Paper 1 duration and total marks (33.3% of qualification)

LGCSE Accounting 0187 assessment at a glance

2 h / 100 marks

Paper 2 duration and total marks (66.6% of qualification)

LGCSE Accounting 0187 assessment at a glance

May/June & Oct/Nov

Examination sessions available for Accounting 0187

LGCSE Accounting 0187 paper availability

M910

Private-candidate fee for one LGCSE subject (2026 ECoL table)

examscouncil.org.ls examinations fees

A*–G

Letter grading scale (U = ungraded); no single numeric cut score published

LGCSE grading practice

110 MCQs

Free English study-adaptation practice items on this page (not official format)

OpenExamPrep practice bank

LGCSE Accounting 0187 is Lesotho's secondary Accounting qualification, examined by ECoL in May/June and October/November. Candidates take Paper 1 (1 h 15 min, 50 marks) and Paper 2 (2 h, 100 marks). Grades are A*–G. This page offers 110 free English MCQ study items with worked explanations — a practice adaptation, not an official ECoL paper format.

Sample LGCSE Accounting (0187) Practice Questions

Try these sample questions to test your LGCSE Accounting (0187) exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 110+ question experience with AI tutoring.

1What is the main difference between bookkeeping and accounting?
A.Bookkeeping records transactions; accounting also classifies, summarises, interprets and reports the information
B.Bookkeeping only prepares the statement of financial position; accounting only records cash
C.Accounting is done before bookkeeping in the accounting cycle
D.Bookkeeping requires professional judgment; accounting is purely mechanical
Explanation: Bookkeeping is the systematic recording of financial transactions. Accounting builds on those records by classifying, summarising, interpreting and communicating information for monitoring progress and decision-making.
2Which benefit of ICT in bookkeeping and accounting is correctly stated?
A.Greater speed and accuracy when processing large volumes of transactions
B.Elimination of the need for source documents
C.Guaranteed freedom from all human error
D.Automatic replacement of double-entry rules
Explanation: ICT supports accuracy, speed, high-volume processing, reconciliations, storage capacity and security. It assists bookkeeping and accounting; it does not remove the need for documents, double entry or careful controls.
3Accounting information is primarily used to:
A.Monitor business progress and support decision-making by owners and other users
B.Replace the need for managers entirely
C.Guarantee that a business will make a profit
D.Set national tax rates for the government
Explanation: The purpose of accounting is to provide information that helps users monitor performance and make informed economic decisions.
4Assets are best defined as:
A.Resources controlled by the business from which future economic benefits are expected
B.Amounts the business owes to outsiders
C.The owner's residual interest after deducting liabilities
D.Day-to-day running costs of the business
Explanation: Assets are resources controlled by the entity that are expected to bring future economic benefits, such as inventory, receivables, equipment and cash.
5A sole trader in Maseru has assets of M85 000 and liabilities of M27 000. What is the owner's capital?
A.M58 000
B.M112 000
C.M27 000
D.M85 000
Explanation: Using Assets = Liabilities + Capital, Capital = Assets − Liabilities = M85 000 − M27 000 = M58 000.
6A business buys inventory of M4 000 on credit. What is the immediate effect on the accounting equation?
A.Assets increase M4 000 and liabilities increase M4 000
B.Assets increase M4 000 and capital increases M4 000
C.Assets decrease M4 000 and liabilities decrease M4 000
D.Liabilities increase M4 000 and capital decreases M4 000
Explanation: Inventory (asset) rises by M4 000 and trade payables (liability) rise by M4 000. Capital is unchanged until goods are sold.
7Which double entry correctly records a cash sale of goods for M1 200?
A.Debit Cash M1 200; Credit Sales M1 200
B.Debit Sales M1 200; Credit Cash M1 200
C.Debit Trade receivables M1 200; Credit Cash M1 200
D.Debit Purchases M1 200; Credit Cash M1 200
Explanation: Cash increases (debit) and sales revenue is credited. For a cash sale there is no trade receivable.
8The double entry to record a credit purchase of goods for M3 500 is:
A.Debit Purchases M3 500; Credit Trade payables M3 500
B.Debit Trade payables M3 500; Credit Purchases M3 500
C.Debit Inventory M3 500; Credit Cash M3 500
D.Debit Purchases M3 500; Credit Cash M3 500
Explanation: Purchases is debited and the supplier (trade payables) is credited for a credit purchase of goods for resale.
9The sales ledger contains accounts of:
A.Credit customers (trade receivables)
B.Credit suppliers (trade payables)
C.All nominal expense and income accounts only
D.Non-current assets only
Explanation: The sales ledger holds individual accounts of credit customers. Suppliers are in the purchases ledger; nominal accounts are in the general ledger.
10Capital at 1 January was M40 000 and at 31 December M52 000. During the year the owner introduced M5 000 cash and took drawings of M8 000. What was the profit for the year?
A.M15 000
B.M7 000
C.M25 000
D.M3 000
Explanation: Closing capital = opening capital + capital introduced + profit − drawings. So M52 000 = M40 000 + M5 000 + profit − M8 000, giving profit = M15 000.

About the LGCSE Accounting (0187) Exam

LGCSE Accounting (0187) develops knowledge of accounting principles and practices for individuals, businesses, non-trading organisations and society. Candidates learn double-entry bookkeeping, verification techniques, adjustments, preparation of financial statements for sole traders, partnerships, companies, clubs and manufacturers, incomplete records, and ratio analysis for decision-making.

Assessment

Paper 1: structured paper with 12–15 multiple-choice and short-answer questions (usually 4–5 questions), 1 hour 15 minutes, 50 marks (33.3%). Paper 2: structured paper with usually 4–6 questions, 2 hours, 100 marks (66.6%). Both papers compulsory; answers on the question paper.

Time Limit

Paper 1: 1 hour 15 minutes; Paper 2: 2 hours

Passing Score

Letter grades A*–G (U = ungraded); Grade C or better is commonly treated as credit-level for progression

Exam Fee

Private candidates: M910 for one LGCSE subject on the 2026 ECoL fee table (packages rise with more subjects, e.g. up to M2730 for 8 subjects). School candidates register through centres (school schedules from about M2120 for 6 subjects). Accounting has no separate practical fee. Confirm current fees and deadlines on examscouncil.org.ls. (Examinations Council of Lesotho (ECoL))

LGCSE Accounting (0187) Exam Content Outline

20%

Purpose of Accounting and Recording Data

Difference between bookkeeping and accounting; role of accounting information; ICT benefits; assets, liabilities and owner's equity; accounting equation and transaction effects; double entry; sales, purchases and nominal ledgers; invoices, credit/debit notes, cheques, receipts, petty cash vouchers and statements; VAT input and output tax; cash book, petty cash (imprest), journals and day books; trade vs cash discount.

20%

Verification of Accounting Records

Extracting and using a trial balance; limitations of the trial balance; errors of commission, compensating, complete reversal, duplication, omission, original entry and principle; journal corrections; suspense accounts and profit adjustments; sales and purchases ledger control accounts (including discounts, returns, bad debts, dishonoured cheques, contras and interest); bank reconciliation (charges, interest, standing orders, direct debits, unpresented cheques, uncredited deposits).

15%

Accounting Procedures

Capital and revenue expenditure and receipts and the effect of misclassification on profit and asset values; depreciation reasons and methods (straight line, reducing balance, revaluation); provision for depreciation and disposal profit or loss; accruals and prepayments of expenses and income; bad debts written off and recovered; allowance (provision) for doubtful debts.

30%

Financial Statements

Gross profit and profit for the year; vertical income statements and statements of financial position for trading and service sole traders with year-end adjustments and drawings; partnership agreements, appropriation accounts, capital and current accounts, interest on capital/drawings, salaries and profit shares; limited company share and loan capital structure and statements of changes in equity; clubs (receipts and payments, income and expenditure, subscriptions, accumulated fund); manufacturing accounts (prime cost, factory overheads, work in progress); incomplete records, statements of affairs, mark-up, margin and inventory turnover.

15%

Analysis and Interpretation

Rate of inventory turnover; gross profit/revenue and profit for the year/revenue; ROCE; current ratio and quick (acid-test) ratio; effects of inventory valuation errors on gross profit, profit for the year, equity and assets; linking working capital to liquidity.

How to Pass the LGCSE Accounting (0187) Exam

What You Need to Know

  • Passing score: Letter grades A*–G (U = ungraded); Grade C or better is commonly treated as credit-level for progression
  • Assessment: Paper 1: structured paper with 12–15 multiple-choice and short-answer questions (usually 4–5 questions), 1 hour 15 minutes, 50 marks (33.3%). Paper 2: structured paper with usually 4–6 questions, 2 hours, 100 marks (66.6%). Both papers compulsory; answers on the question paper.
  • Time limit: Paper 1: 1 hour 15 minutes; Paper 2: 2 hours
  • Exam fee: Private candidates: M910 for one LGCSE subject on the 2026 ECoL fee table (packages rise with more subjects, e.g. up to M2730 for 8 subjects). School candidates register through centres (school schedules from about M2120 for 6 subjects). Accounting has no separate practical fee. Confirm current fees and deadlines on examscouncil.org.ls.

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

LGCSE Accounting (0187) Study Tips from Top Performers

1Drill the accounting equation and double-entry rules until every transaction's debit and credit are automatic — most later errors start there.
2Practise extracting a trial balance and classifying the seven errors that do not affect it, then journal and suspense corrections.
3Work full vertical income statements and statements of financial position with accruals, prepayments, depreciation, bad debts and drawings in Maloti figures.
4Memorise ratio formulae (gross margin, profit margin, ROCE, inventory turnover, current and quick ratios) and always state units (times, :1, or %).
5For incomplete records, rebuild sales/purchases from control-account logic and use mark-up vs margin carefully — they are not the same.
6Time yourself on multi-step calculations under Paper 2 style: show workings clearly even when practising MCQ answers.

Frequently Asked Questions

What is LGCSE Accounting syllabus 0187?

Syllabus 0187 is the Examinations Council of Lesotho (ECoL) Lesotho General Certificate of Secondary Education Accounting syllabus, developed with the National Curriculum Development Centre (NCDC). It covers bookkeeping, verification, adjustments, financial statements for several entity types, incomplete records, and ratio analysis.

How is LGCSE Accounting examined?

Candidates take two compulsory written papers. Paper 1 lasts 1 hour 15 minutes and carries 50 marks (about 33.3%): a structured paper with 12–15 multiple-choice and short-answer items across usually 4–5 questions. Paper 2 lasts 2 hours and carries 100 marks (about 66.6%): usually 4–6 structured questions. Both papers sample the whole syllabus.

When can I sit LGCSE Accounting?

Accounting 0187 is examined in the May/June and October/November series and is available to private candidates as well as school candidates. Confirm entry deadlines and fees on the ECoL website.

What grade do I need to pass LGCSE Accounting?

ECoL awards letter grades A* through G, with U for ungraded. There is no single published numeric percentage cut score. Grade C or better is commonly treated as credit-level performance for progression, but check your school or pathway requirements.

How much does private LGCSE entry cost?

On the 2026 ECoL examinations fee table, private LGCSE candidates pay from M910 for one subject up to M2730 for eight subjects. School candidates are registered through centres under school fee schedules. Always confirm the current table and registration deadlines on examscouncil.org.ls.

Are these official ECoL exam questions?

No. This bank is an original English-language multiple-choice study adaptation aligned to LGCSE Accounting 0187 topics. Official papers use structured written items (Paper 1 mixes MCQ/short answer; Paper 2 is structured). Use these MCQs for concept drill and calculation practice, not as a full simulation of ECoL mark schemes or paper layout.