Free Practice Questions for National 5 Accounting
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Key Facts: National 5 Accounting Exam
72% / 28%
Weighting of Question Paper vs Assignment
Qualifications Scotland N5 Accounting Spec
130 marks
Question Paper marks (2 hours)
Qualifications Scotland
50 marks
Assignment marks
Qualifications Scotland
100
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Qualifications Scotland National 5 Accounting features a 130-mark external question paper (2 hours) and a 50-mark assignment testing financial accounting (statements, ledger accounts, inventory, depreciation) and management accounting (costing, budgeting, breakeven analysis). Graded A-D.
Sample National 5 Accounting Practice Questions
Try these sample questions to review concepts for the National 5 Accounting exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1Which financial statement shows a business's revenue and expenses over a trading period to calculate profit or loss?
2Gross profit is calculated as:
3A business purchases machinery for £20,000 with an estimated useful life of 5 years and no residual value. Using straight-line depreciation, what is the annual depreciation charge?
4Which of the following is classified as a non-current asset on a Statement of Financial Position?
5What does the term 'Accruals' mean in financial accounting?
6If Opening Inventory is £6,000, Purchases are £24,000, and Closing Inventory is £5,000, what is the Cost of Sales?
7Under the FIFO (First-In, First-Out) inventory valuation method, which items are assumed to be sold first?
8A business has Selling Price = £50 per unit, Variable Cost = £30 per unit, and Total Fixed Costs = £12,000. What is the Breakeven Point in units?
9Contribution margin per unit is defined as:
10Which ratio measures a firm's ability to settle short-term debts using its most liquid assets, excluding inventory?
About the National 5 Accounting Exam
National 5 Accounting (course code C800 75) is a Scottish Credit and Qualifications Framework (SCQF) level 5 course awarded by Qualifications Scotland. It assesses candidates' understanding of financial and management accounting concepts, bookkeeping, ratio analysis, budgeting, and costing techniques.
Exam sponsor: Qualifications Scotland (formerly SQA). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Assessment
Question count not published by the exam provider
Time Limit
Question paper 2 hours; assignment 2 hours
Passing Score
Graded A-D, with No Award below D. Notional grade boundaries are 50% of the total course assessment marks for a C, 70% for an A and 85% for an upper A; final boundaries are set each year at awarding meetings after marking.
Exam / Certification Fees
No candidate fee is published by Qualifications Scotland: entry fees are invoiced to the presenting centre, so school and college candidates in Scotland are not charged. Private candidates must arrange an approved presenting centre, which sets its own charge.
Exam sponsor websiteFees, 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.
Financial Accounting
Financial accounting concepts, trial balance preparation, income statements, statements of financial position, adjustments for prepayments and accruals, depreciation methods (straight-line, reducing balance), FIFO/AVCO inventory valuation, and liquidity ratios.
Management Accounting
Cost classification (fixed, variable, semi-variable), job costing, overhead allocation and absorption, cash budgeting, sales budgeting, breakeven analysis (contribution margin, breakeven point, margin of safety), and management decision making.
Preparing for the National 5 Accounting Exam
What You Need to Know
- Passing score: Graded A-D, with No Award below D. Notional grade boundaries are 50% of the total course assessment marks for a C, 70% for an A and 85% for an upper A; final boundaries are set each year at awarding meetings after marking.
- Assessment: Question count not published by the exam provider
- Time limit: Question paper 2 hours; assignment 2 hours
- Exam / certification fees: No candidate fee is published by Qualifications Scotland: entry fees are invoiced to the presenting centre, so school and college candidates in Scotland are not charged. Private candidates must arrange an approved presenting centre, which sets its own charge. Official sources
Using Our Practice Resources
- Work through all 100 available questions
- Review every answer and explanation
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National 5 Accounting: Suggested Study Strategy
Frequently Asked Questions
Who awards National 5 Accounting?
National 5 Accounting is awarded by Qualifications Scotland (formerly SQA). It is aligned to SCQF Level 5.
How is National 5 Accounting assessed?
Assessment consists of a 2-hour external question paper worth 130 marks (72% of total mark) and a coursework assignment worth 50 marks (28% of total mark).
What topics are tested in National 5 Accounting?
The course covers two main areas equally: Financial Accounting (financial statements, adjustments, depreciation, inventory valuation) and Management Accounting (costing, budgeting, breakeven analysis).