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MV Abitur Rechnungswesen study materials
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MV Abitur Rechnungswesen practice questions

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Question 1Financial statements and company equity

On 1 October the firm pays EUR 6,000 net for 6 months' rent in advance (Oct–Mar). At 31 December (FY calendar year), the remaining prepaid rent that is transitorische aktive RAP is:

  1. EUR 0
  2. EUR 2,000
  3. EUR 3,000 Correct answer.
  4. EUR 6,000

Explanation

Monthly rent = 6,000/6 = 1,000. Jan–Mar (3 months after year-end) remain prepaid → aktive RAP EUR 3,000.

Question 2Financial statements and company equity

Interest income EUR 900 for the current year will be received only in January next year. At year-end the firm should recognise:

  1. Transitorische passive RAP EUR 900
  2. Antizipative aktive RAP (sonstige Forderung) EUR 900 Correct answer.
  3. Rückstellung EUR 900
  4. No entry because cash has not arrived

Explanation

Ertrag belongs to this year but cash next year → antizipative aktive Rechnungsabgrenzung (other receivable).

Question 3Financial statements and company equity

Which situation requires recognising a Rückstellung rather than a Verbindlichkeit?

  1. Invoice received for exact EUR 2,500 legal fees already rendered
  2. Probable warranty repairs next year; amount estimated EUR 8,000 Correct answer.
  3. Bank loan instalment of EUR 1,000 due on a fixed date next month
  4. Trade payable of EUR 4,200 per supplier invoice

Explanation

Rückstellungen cover obligations uncertain in amount and/or timing (e.g. Gewährleistung). Exact invoiced liabilities are Verbindlichkeiten.

Question 4Financial statements and company equity

Insurance premium EUR 2,400 for the period 1 July Year 1 to 30 June Year 2 was paid on 1 July Year 1. At 31 Dec Year 1 (calendar FY), aktive RAP equals:

  1. EUR 400
  2. EUR 1,200 Correct answer.
  3. EUR 2,000
  4. EUR 2,400

Explanation

Half of the annual premium (Jan–Jun Year 2) remains prepaid → EUR 1,200 aktive RAP.

Question 5Financial statements and company equity

Wages for December EUR 7,000 will be paid on 5 January. At 31 December the firm records:

  1. Transitorische aktive RAP EUR 7,000
  2. Antizipative passive Abgrenzung / sonstige Verbindlichkeiten EUR 7,000 (with wage expense) Correct answer.
  3. Rückstellung EUR 7,000 because the payment date is next year
  4. No entry until cash is paid

Explanation

Expense incurred this year, cash next year → antizipative passive accrual (other liability), not a Rückstellung when amount/timing are essentially certain.

Question 6Financial statements and company equity

On 31 Dec the firm books: aktive RAP EUR 900 / Aufwand EUR 900 (reclassification of prepaid portion). This entry means:

  1. Expense is increased by EUR 900
  2. Expense of the old year is reduced and an asset RAP is shown for the prepaid portion Correct answer.
  3. A liability is created
  4. Cash increases by EUR 900

Explanation

Moving prepaid amounts out of expense into aktive RAP reduces this year's Aufwand and capitalises the future benefit.

Question 7Financial statements and company equity

Opening inventory EUR 8,000; purchases EUR 45,000; closing inventory EUR 9,500. Materialaufwand (COGS-style) is:

  1. EUR 43,500 Correct answer.
  2. EUR 45,000
  3. EUR 53,000
  4. EUR 62,500

Explanation

Aufwand = opening + purchases − closing = 8,000 + 45,000 − 9,500 = EUR 43,500.

Question 8Financial statements and company equity

A tax advisor invoice for December work arrives in January for exactly EUR 1,100. At 31 December, before the invoice, the firm should still book:

  1. Nothing - wait for the invoice date
  2. Antizipative passive accrual / Verbindlichkeit (expense EUR 1,100) if the obligation and amount are sufficiently certain Correct answer.
  3. Aktive RAP EUR 1,100
  4. Rückstellung only if the advisor might never bill

Explanation

Services received this year create an accrued liability even if the invoice arrives later, when amount/existence are clear.

Question 9Financial statements and company equity

Which RAP is antizipativ?

  1. Prepaid insurance remaining for next year
  2. Rent received in advance for next year
  3. Interest earned this year but cash next year Correct answer.
  4. Office supplies still on hand

Explanation

Antizipativ means the Erfolg is this year while the Zahlungsstrom is next year - accrued interest income is the classic case.

Question 10Financial statements and company equity

Trade payable EUR 9,520 (gross) exists; amount and due date are fixed per invoice. Classify as:

  1. Rückstellung
  2. Verbindlichkeit aus Lieferungen und Leistungen Correct answer.
  3. Aktive RAP
  4. Eigenkapital

Explanation

When amount and due date of a supplier invoice are fixed, the obligation is a Verbindlichkeit aus Lieferungen und Leistungen, not a Rückstellung.

Question 11Financial statements and company equity

Calendar-year firm pays EUR 900 on 1 Dec for a 3-month ad campaign Dec–Feb. At 31 Dec, expense for the year from this payment (straight-line) is:

  1. EUR 0
  2. EUR 300 Correct answer.
  3. EUR 600
  4. EUR 900

Explanation

One of three months falls in this year → Aufwand EUR 300; remaining EUR 600 is aktive RAP.

Question 12Inventory and production cost

Listeneinkaufspreis EUR 20,000; Lieferantenrabatt 5%; Skonto 2% of the Zieleinkaufspreis; Bezugskosten EUR 360. Einstandspreis is:

  1. EUR 18,620
  2. EUR 18,980 Correct answer.
  3. EUR 19,000
  4. EUR 19,360

Explanation

Zieleinkaufspreis = 20,000 × (1 − 0.05) = EUR 19,000. Bareinkaufspreis = 19,000 × (1 − 0.02) = EUR 18,620. Einstandspreis = 18,620 + 360 = EUR 18,980.

Question 13Inventory and production cost

Supplier terms: 3% Skonto within 10 days; net 40 days. Using Effektivverzinsung = (Skontosatz/(100−Skontosatz)) × (360/(Zahlungsziel−Skontofrist)) × 100, the annualised rate is closest to:

  1. 27.8%
  2. 31.9%
  3. 37.1% Correct answer.
  4. 108.0%

Explanation

Days = 40 − 10 = 30. Effektivverzinsung = (3/97) × (360/30) × 100 ≈ 37.11%.

Question 14Inventory and production cost

Bank overdraft costs 12% p.a. Supplier offers 2% Skonto for payment 20 days early versus the net date. Approximate Skonto Effektivverzinsung ≈ 36.7%. The better choice is:

  1. Ignore Skonto because 2% < 12%
  2. Take Skonto - its ~36.7% yield exceeds the 12% overdraft cost Correct answer.
  3. Take Skonto only if VAT is reclaimable
  4. Always pay on the net date regardless of rates

Explanation

Forgoing Skonto is like expensive short-term borrowing (~36.7% p.a.), so using a 12% overdraft to pay early and take Skonto is cheaper.

Question 15Inventory and production cost

Selbstkosten EUR 40,000; Gewinnzuschlag 12% of Selbstkosten. Barverkaufspreis (before customer Skonto/Rabatt) is:

  1. EUR 4,800
  2. EUR 40,000
  3. EUR 44,800 Correct answer.
  4. EUR 52,000

Explanation

Gewinn = 40,000 × 0.12 = 4,800. Barverkaufspreis = 40,000 + 4,800 = EUR 44,800.

Question 16Inventory and production cost

Barverkaufspreis EUR 49,000. Customer Skonto 2% is built so that after Skonto the Barverkaufspreis remains. Zielverkaufspreis is:

  1. EUR 48,020
  2. EUR 49,000
  3. EUR 50,000 Correct answer.
  4. EUR 51,000

Explanation

If Barverkaufspreis = Zielverkaufspreis × 0.98, then Zielverkaufspreis = 49,000 / 0.98 = EUR 50,000.

Question 17Inventory and production cost

Customer pays an open item of EUR 11,900 within Skontofrist and deducts 2% Skonto on the gross amount. Cash received is:

  1. EUR 11,662 Correct answer.
  2. EUR 11,900
  3. EUR 12,138
  4. EUR 10,000

Explanation

Skonto = 11,900 × 0.02 = 238. Cash = 11,900 − 238 = EUR 11,662.

Question 18Inventory and production cost

Offer A: LEP EUR 12,000, Rabatt 8%, Skonto 2%, Bezugskosten EUR 200. Offer B: LEP EUR 11,800, Rabatt 5%, Skonto 0%, Bezugskosten EUR 150. Lower Einstandspreis is:

  1. Offer A ≈ EUR 11,019 Correct answer.
  2. Offer B ≈ EUR 11,210
  3. Offer B ≈ EUR 11,360
  4. Offer A ≈ EUR 11,360

Explanation

A: ZEP = 12,000 × 0.92 = 11,040; BEP = 11,040 × 0.98 = 10,819.20; Einstand = 10,819.20 + 200 = EUR 11,019.20. B: ZEP = 11,800 × 0.95 = 11,210; Einstand = 11,210 + 150 = EUR 11,360. Offer A is cheaper.

Question 19Inventory and production cost

LEP EUR 5,000; Rabatt 4%; Skonto 3% of ZEP; no Bezugskosten. Bareinkaufspreis is:

  1. EUR 4,656 Correct answer.
  2. EUR 4,800
  3. EUR 4,850
  4. EUR 5,000

Explanation

ZEP = 5,000 × 0.96 = 4,800. BEP = 4,800 × 0.97 = EUR 4,656.

Question 20Inventory and production cost

A firm can borrow at 9% p.a. Supplier: 1% Skonto for payment 15 days early. Approx. Effektivverzinsung = (1/99)×(360/15)×100 ≈ 24.2%. Decision:

  1. Forgo Skonto - 1% is less than 9%
  2. Take Skonto - ~24.2% exceeds the 9% borrowing cost Correct answer.
  3. Indifferent because VAT cancels out
  4. Take Skonto only in leap years

Explanation

Annualised Skonto yield ≈ 24.2% exceeds 9% borrowing cost, so financing early payment to take Skonto is advantageous.

Question 21Inventory and production cost

Bezugskalkulation: LEP EUR 2,500; Rabatt EUR 125; Skonto EUR 47.50; Bezugskosten EUR 80. Einstandspreis is:

  1. EUR 2,307.50
  2. EUR 2,407.50 Correct answer.
  3. EUR 2,455.00
  4. EUR 2,552.50

Explanation

After Rabatt and Skonto, Bareinkaufspreis = 2,500 − 125 − 47.50 = 2,327.50; plus Bezugskosten 80 → Einstandspreis = EUR 2,407.50.

Question 22Inventory and production cost

Verkaufskalkulation: Selbstkosten EUR 25,000; Gewinn 8%; no customer Skonto/Rabatt. List/selling price before VAT equals Barverkaufspreis of:

  1. EUR 2,000
  2. EUR 25,000
  3. EUR 27,000 Correct answer.
  4. EUR 33,000

Explanation

In Verkaufskalkulation without customer Rabatt/Skonto, Barverkaufspreis = Selbstkosten × (1 + Gewinnzuschlag). Here 25,000 × 1.08 = EUR 27,000.

Question 23Inventory and production cost

Terms 2/10 net 30. Using (2/98)×(360/20)×100 ≈ 36.7%, if the firm's alternative financing costs 40% p.a., the better cash decision is:

  1. Take Skonto - any positive Skonto is always best
  2. Forgo Skonto - alternative financing is more expensive than the Skonto yield Correct answer.
  3. Forgo Skonto because 2% < 40%
  4. Take Skonto only on weekends

Explanation

If alternative funds cost 40% while Skonto yields ~36.7%, paying early with expensive funds destroys value - forgo Skonto.

Question 24Cash flows and financial interpretation

Anlagevermögen EUR 200,000; Eigenkapital EUR 250,000. Anlagendeckung I is:

  1. 80%
  2. 100%
  3. 125% Correct answer.
  4. 200%

Explanation

Anlagendeckung I = Eigenkapital / Anlagevermögen × 100 = 250,000 / 200,000 × 100 = 125%.

Question 25Cash flows and financial interpretation

After 2 years of lineare AfA on the EUR 50,000 machine (5 years, residual 0), Buchwert is:

  1. EUR 10,000
  2. EUR 20,000
  3. EUR 30,000 Correct answer.
  4. EUR 40,000

Explanation

Accumulated AfA = 2 × 10,000 = 20,000; Buchwert = 50,000 − 20,000 = EUR 30,000.

Question 26Cash flows and financial interpretation

GuV shows other operating income EUR 5,000 and other operating expenses EUR 8,500 besides a trading gross margin of EUR 40,000 and no further items. Operating result before tax is:

  1. EUR 26,500
  2. EUR 36,500 Correct answer.
  3. EUR 45,000
  4. EUR 53,500

Explanation

Operating result before tax = trading gross margin + other operating income − other operating expenses = 40,000 + 5,000 − 8,500 = EUR 36,500.

Question 27Management costing and cost allocation

Fertigungsgemeinkosten EUR 48,000; Fertigungseinzelkosten EUR 60,000. FGK-Zuschlag is:

  1. 48%
  2. 60%
  3. 80% Correct answer.
  4. 125%

Explanation

The FGK-Zuschlagssatz is Fertigungsgemeinkosten ÷ Fertigungseinzelkosten × 100. 48,000 / 60,000 × 100 = 80%.

Question 28Management costing and cost allocation

MEK EUR 400; MGK 20%; FEK EUR 250; FGK 60%. Herstellkosten are:

  1. EUR 650
  2. EUR 730
  3. EUR 790
  4. EUR 880 Correct answer.

Explanation

MGK = 400 × 0.20 = 80; FGK = 250 × 0.60 = 150. Herstellkosten = 400 + 80 + 250 + 150 = EUR 880.

Question 29Management costing and cost allocation

Herstellkosten EUR 880; Verwaltungsgemeinkosten 10% of HK; Vertriebsgemeinkosten 5% of HK. Selbstkosten are:

  1. EUR 880
  2. EUR 968
  3. EUR 1,012 Correct answer.
  4. EUR 1,100

Explanation

VwGK = 88; VtGK = 44; Selbstkosten = 880 + 88 + 44 = EUR 1,012.

Question 30Management costing and cost allocation

Herstellkosten der Erzeugung EUR 100,000; Bestandsmehrung fertige Erzeugnisse EUR 8,000. Herstellkosten des Umsatzes are:

  1. EUR 92,000 Correct answer.
  2. EUR 100,000
  3. EUR 108,000
  4. EUR 8,000

Explanation

HK des Umsatzes = HK der Erzeugung − Bestandsmehrung = 100,000 − 8,000 = EUR 92,000.

Question 31Management costing and cost allocation

MEK EUR 2,000; MGK 25%; FEK EUR 1,500; FGK 80%; VwGK 12% of HK; VtGK 6% of HK. Selbstkosten are:

  1. EUR 5,200
  2. EUR 5,824
  3. EUR 6,136 Correct answer.
  4. EUR 6,500

Explanation

MGK=500; FGK=1,200; HK=5,200; VwGK=624; VtGK=312; Selbstkosten = 5,200 + 624 + 312 = EUR 6,136.

Question 32Management costing and cost allocation

A job uses 4 Fertigungsstunden at EUR 30/h FGK-rate plus FEK EUR 50. Fertigungskosten (FEK+FGK) for the job are:

  1. EUR 50
  2. EUR 120
  3. EUR 170 Correct answer.
  4. EUR 200

Explanation

FGK = 4 × 30 = 120; Fertigungskosten = 50 + 120 = EUR 170.

Question 33Management costing and cost allocation

HK EUR 10,000; VwGK 8%; VtGK 5%; Gewinn 15% of Selbstkosten. Barverkaufspreis is:

  1. EUR 11,300
  2. EUR 12,995 Correct answer.
  3. EUR 13,000
  4. EUR 15,000

Explanation

SK = 10,000 × 1.13 = 11,300; Barverkaufspreis = 11,300 × 1.15 = EUR 12,995.

Question 34Management costing and cost allocation

A product's Selbstkosten are EUR 80; market allows only EUR 70 Barverkaufspreis. Short-term decision insight from Kostenrechnung:

  1. Always produce because Selbstkosten are sunk in Finanzbuchhaltung
  2. Full-cost price is not covered - review costing, mix, or acceptance only with Teilkosten arguments Correct answer.
  3. Raise Vorsteuer by EUR 10
  4. Book the EUR 10 difference as aktive RAP

Explanation

Price below Selbstkosten signals a full-cost shortfall; further Teilkosten/Deckungsbeitrag analysis may be needed, but TF7 Vollkosten view flags the problem.

Question 35Management costing and cost allocation

MEK EUR 200; MGK 25%; FEK EUR 160; FGK 50%; VwGK 10% of HK; VtGK 5% of HK. Selbstkosten =

  1. EUR 490
  2. EUR 539
  3. EUR 563.50 Correct answer.
  4. EUR 600

Explanation

MGK = 50; FGK = 80; HK = 200 + 50 + 160 + 80 = 490; VwGK = 49; VtGK = 24.50; Selbstkosten = 490 + 49 + 24.50 = EUR 563.50.

Question 36Financial statements and company equity

In a supplied double-entry model, an owner deposits 5,000 into a new business bank account as capital. Which entry records it?

  1. Debit owner capital 5,000; credit bank 5,000
  2. Debit bank 5,000; credit borrowing 5,000
  3. Debit bank 5,000; credit owner capital 5,000 Correct answer.
  4. Debit expenses 5,000; credit sales 5,000

Explanation

The business receives an asset and the owner’s claim increases. The transaction is an owner contribution under the stated facts, so it is neither sales revenue nor a borrowing.

Question 37Financial statements and company equity

A business buys equipment for 3,000 cash. Under a model that capitalizes the equipment, what immediate change occurs?

  1. Total assets must rise 3,000 with no other change
  2. All 3,000 must immediately be sales revenue
  3. Owner capital must fall 6,000
  4. Equipment rises 3,000 and bank falls 3,000 Correct answer.

Explanation

One asset is exchanged for another when cash is used to purchase capitalized equipment. Total assets initially remain unchanged before depreciation, other costs or financing effects.

Question 38Financial statements and company equity

A supplied accrual model records a credit sale of 800 for services already completed. Which entry matches the sale?

  1. Debit receivable 800; credit service revenue 800 Correct answer.
  2. Debit bank 800; credit receivable 800
  3. Debit service revenue 800; credit receivable 800
  4. Debit inventory 800; credit owner capital 800

Explanation

The business has earned revenue and holds a claim on the customer, even though payment is later. The receivable is the debit and earned service revenue the credit.

Question 39Financial statements and company equity

The customer later pays an existing receivable of 800 in full. What happens before any other transactions?

  1. Both bank and receivables must fall 800
  2. Bank increases 800 and receivables decrease 800, with no second sales revenue Correct answer.
  3. Revenue must rise 800 again because money arrived
  4. Receivables increase 800 while bank decreases 800

Explanation

Collection changes the form of an existing asset from receivable to cash. The original sale was already recognized, so recognizing the same sales revenue again would duplicate it.

Question 40Financial statements and company equity

A machine costs 12,000, has estimated residual value 2,000 and a five-year useful life. In the supplied straight-line model, what annual depreciation follows?

  1. 10,000 per year
  2. 400 per year
  3. 2,000 per year Correct answer.
  4. 2,400 per year

Explanation

Straight-line depreciation allocates cost less estimated residual value over the supplied useful life. Dividing the depreciable amount 10,000 by five years gives 2,000 per year.

Question 41Financial statements and company equity

A firm owes wages of 600 for work already performed but unpaid at the reporting date. What does an accrual adjustment recognize?

  1. A bank receipt and sales revenue of 600
  2. No expense until payment under every possible accounting model
  3. A reduction in the wage liability below zero
  4. A wage expense and a wage liability of 600 Correct answer.

Explanation

Under the stated accrual approach, the expense relates to work already received and the unpaid obligation is a liability. Payment later settles that liability rather than creating the original expense again.

Question 42Financial statements and company equity

A trial balance has equal debit and credit totals. Which error can still be present?

  1. A complete transaction omitted from both debit and credit records Correct answer.
  2. Every individual debit being smaller than its matching credit
  3. A one-sided debit entry with no balancing credit anywhere
  4. An arithmetic difference between the stated debit and credit totals

Explanation

Equal totals test one form of arithmetic agreement, not complete accuracy. Omitting both sides of a transaction leaves the totals equal while making the records incomplete.

Question 43Financial statements and company equity

An inventory model supplies opening stock 100, purchases 400 and closing stock 120, with no other adjustments. What cost of goods sold follows?

  1. 280
  2. 380 Correct answer.
  3. 620
  4. 520

Explanation

Goods available for sale equal opening stock plus purchases, or 500. Subtracting the closing stock 120 leaves 380 as the cost assigned to goods sold under the supplied model.

Question 44Financial statements and company equity

A business has bank balance 1,000 and a bank statement balance 1,200 because a customer receipt 200 appears only on the statement. Assuming no other items, what book adjustment is needed?

  1. Record an additional payment 200 in the cash book
  2. Treat the difference automatically as profit regardless of the customer account
  3. Record the customer receipt 200 in the cash book Correct answer.
  4. Delete the receipt from the bank’s statement

Explanation

The unrecorded receipt explains why the bank statement is higher than the business record. Recording that receipt brings the records into agreement; its credit counterpart depends on the underlying customer transaction.

Question 45Financial statements and company equity

A model balance sheet lists assets 90,000 and liabilities 55,000. What equity follows from assets = liabilities + equity?

  1. 145,000
  2. 55,000
  3. 90,000
  4. 35,000 Correct answer.

Explanation

Rearranging the stated accounting equation gives equity as assets less liabilities. Subtracting 55,000 from 90,000 gives 35,000, representing the residual claim under this supplied model.

Question 46Concepts and financial recording

Which statement best describes the primary purpose of financial accounting?

  1. To record, summarise and communicate economic events of an entity to external users using established principles and standards Correct answer.
  2. To prepare tax returns for the revenue authority only
  3. To set selling prices based on contribution margins
  4. To provide detailed cost analyses for internal managers only

Explanation

Financial accounting focuses on recording, summarising and communicating economic events of entities based on established principles, standards and legislation for external users such as investors and creditors.

Question 47Concepts and financial recording

Under the accrual basis of accounting, revenue is generally recognised when:

  1. Cash is received from the customer
  2. It is earned, regardless of when cash is received Correct answer.
  3. The invoice is printed by the accounting software
  4. The owners decide to declare a dividend

Explanation

Accrual accounting recognises revenue when it is earned (and expenses when incurred), not necessarily when cash changes hands. Cash-basis accounting recognises revenue when cash is received.

Question 48Concepts and financial recording

Which qualitative characteristic means that information can influence users' economic decisions by helping them evaluate past, present or future events?

  1. Verifiability only
  2. Consistency only
  3. Comparability
  4. Relevance Correct answer.

Explanation

Relevance means accounting information is capable of making a difference in users' decisions, including confirmatory or predictive value. Comparability and consistency help users identify similarities and differences over time or across entities.

Question 49Concepts and financial recording

The accounting principle that requires expenses to be recognised in the same period as the related revenues is called the:

  1. Matching principle Correct answer.
  2. Monetary unit principle
  3. Entity principle
  4. Going concern principle

Explanation

The matching principle requires that expenses be recognised in the period in which the related revenues are earned, so that profit reflects the net result of that period's activity.

Question 50Concepts and financial recording

A Technical School workshop buys raw materials on credit from supplier Costa for €1,250. The correct double entry is:

  1. Debit Purchases €1,250; Credit Costa €1,250 Correct answer.
  2. Debit Costa €1,250; Credit Purchases €1,250
  3. Debit Purchases €1,250; Credit Bank €1,250
  4. 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.