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HKDSE BAFS Paper 1 Mock Paper (2027): 15 MC and 3 Short Questions with Answers
TUTORZONE ORIGINAL MOCK PAPER · HKDSE BAFS PAPER 1
Written to the HKEAA 2027 framework: BAFS Paper 1 covers the Compulsory Part, 25% of the subject in 1 hour, with Section A multiple-choice at 17% of the subject mark and Section B three short questions at 8%; Paper 2 covers the Elective Part at 75% over 2 h 30 min. This paper has 15 MC items and 3 short questions with answers and mark allocation.
What is in HKDSE BAFS Paper 1?
Direct answer: Paper 1 covers the Compulsory Part, 25% of the subject in 1 hour: Section A multiple-choice at 17% of the subject mark and Section B three short questions at 8%. The Elective Part is Paper 2 at 75% over 2 h 30 min (33/27/15). There is no SBA.
Assessment at a glance (2027)
| Component | Content | Weighting | Duration |
|---|---|---|---|
| Section A (multiple-choice) | Compulsory Part; 17% of the subject mark | 17% | 30 min |
| Section B (three short questions) | Compulsory Part; 8% of the subject mark | 8% | 25-30 min |
| Paper 2 (Elective Part, separate paper) | 75% over 2 h 30 min: Section A 33%, Section B 27%, Section C 15% (one question) | 75% | 2 h 30 min |
Sixty minutes splits roughly 30 for the MC section and 25-30 for the three short questions. Accounting calculations such as depreciation, contribution and break-even carry both method and answer marks, so write every step.
How this paper was built
This is a TutorZone original mock paper: the questions follow the 2027 framework’s structure (Paper 1 at 25% in 1 hour, Section A 17% and Section B 8%) and the answers are our own, not HKEAA past papers or marking references.
HKEAA publishes no fixed question count, so this paper sets its own: 15 MC items and 3 short questions. Every numeric answer was recomputed programmatically.
Pacing
| Section | Marks | Suggested time | What to do first |
|---|---|---|---|
| Section A (multiple-choice) | 17% | about 30 min | Know the accounting equation and ratios; calculation marks are non-negotiable |
| Section B (three short questions) | 8% | about 25-30 min | Both sides of every entry; show the working |
| Paper 2 (Elective Part, separate paper) | 75% | not covered here | This paper covers Paper 1 only |
How should the 60 minutes be split?
Direct answer: about 30 minutes on Section A and 25-30 on Section B. Entries and calculations carry method marks: write the debit and credit first, then the steps, and only then the final figure.
Section A: multiple-choice (15 questions)
Aim for about 30 minutes. The accounting equation, ratios and cost accounting recur constantly.
Question 1
Assets are $500 000 and liabilities $180 000. What is the capital?
A. $320 000B. $180 000C. $680 000D. $500 000
Question 2
A machine costs $100 000 with an estimated residual value of $10 000 and a 5-year life. Find the annual straight-line depreciation.
A. $20 000B. $18 000C. $10 000D. $22 000
Question 3
An expense incurred this year but not yet paid is which of the following?
A. CapitalB. Bad debtsC. Accrued expenses (liabilities)D. Prepaid expenses (assets)
Question 4
A credit sale of $20 000 is later confirmed uncollectible. What entry is needed?
A. Debit accounts receivable, credit cashB. Debit bad debts, credit accounts receivableC. Debit capital, credit accounts receivableD. Debit cash, credit bad debts
Question 5
The contribution margin ratio is 60% and the selling price is $20. Find the unit variable cost.
A. $8B. $6C. $12D. $14
Question 6
Fixed costs are $60 000, the selling price $20 and the unit variable cost $8. Find the break-even quantity.
A. 3 000 unitsB. 5 000 unitsC. 12 000 unitsD. 7 500 units
Question 7
From the previous question, how many units are needed to earn a target profit of $24 000?
A. 6 000 unitsB. 7 000 unitsC. 5 000 unitsD. 9 000 units
Question 8
Gross profit is $50 000 and sales $125 000. Find the gross profit margin.
A. 40%B. 50%C. 62.5%D. 25%
Question 9
Which of the following is a current asset?
A. InventoryB. Five-year bank loanC. GoodwillD. Factory premises
Question 10
What is the main purpose of a trial balance?
A. Record cash receipts and paymentsB. Calculate net profitC. Check whether the totals of debits and credits are equalD. Calculate depreciation
Question 11
What is the main disadvantage of a sole proprietorship compared with a limited company?
A. Cannot own assetsB. The owner has unlimited liability for debtsC. Tax benefits due to the lack of legal personalityD. Cannot employ staff
Question 12
In a bank reconciliation, how are unpresented cheques treated?
A. Add to the bank balanceB. Add to the cash book balanceC. Record directly in profit or lossD. Deduct from the bank balance to arrive at the adjusted bank balance
Question 13
Which of the following is part of prime cost?
A. Administrative staff salariesB. Direct materials, direct labour and direct expensesC. Advertising expensesD. Factory rent
Question 14
A business buys inventory for $8 000 and sells it for $12 000. What is the gross profit?
A. $20 000B. $8 000C. $12 000D. $4 000
Question 15
Accounts receivable are $40 000 and the allowance for doubtful debts is set at 5%. Find the allowance.
A. $2 000B. $400C. $8 000D. $4 000
Section B: short questions (3 questions, 20 marks)
Aim for 25-30 minutes. Write both sides of every entry and show your working.
Question 1 (6 marks)
On 31 December a firm’s cash book shows $12 400 and the bank statement shows $13 800. Unpresented cheques are $2 000; a note collected by the bank of $600 is not yet in the cash book; bank charges of $200 are not yet in the cash book. (a) Find the adjusted bank balance; (b) show how the bank charges are recorded.
Question 2 (7 marks)
A machine costs $150 000 with an estimated residual value of $15 000 and a 5-year life, depreciated on the straight-line method. (a) Find the annual depreciation; (b) write the first year’s depreciation entry; (c) find the net book value at the end of year 3.
Question 3 (7 marks)
A product sells at $20 with a unit variable cost of $8 and fixed costs of $60 000 per month. (a) Find the unit contribution; (b) find the break-even quantity and sales revenue; (c) how many units are needed to earn $24 000?
Where are the answers, and do they show the steps?
Direct answer: each question is followed by an answer-and-marks block with the entries (debit and credit), the calculation steps and the marks each earns (depreciation: 2 marks for the annual charge, 3 for the entry, 2 for the net book value), plus the usual losses.
Section A answers and explanations
Question 1
Answer: A ($320 000) Accounting equation: capital = assets − liabilities = 500 000 − 180 000.
Question 2
Answer: B ($18 000) Depreciation = (cost − residual) ÷ life = 90 000 ÷ 5.
Question 3
Answer: C (Accrued expenses (liabilities)) An accrued expense is a service used but unpaid: it belongs in this year’s profit and loss and as a current liability.
Question 4
Answer: B (Debit bad debts, credit accounts receivable) Bad debt is an expense, so debit bad debts and credit accounts receivable.
Question 5
Answer: A ($8) Variable cost is 40% of the price: 20 × 0.4 = 8, leaving a contribution of 12.
Question 6
Answer: B (5 000 units) Unit contribution = 20 − 8 = 12, so break-even = 60 000 ÷ 12.
Question 7
Answer: B (7 000 units) (fixed costs + target profit) ÷ unit contribution = 84 000 ÷ 12.
Question 8
Answer: A (40%) Gross profit margin = gross profit ÷ sales = 50 000 ÷ 125 000.
Question 9
Answer: A (Inventory) Inventory is expected to convert to cash within one operating cycle, so it is current.
Question 10
Answer: C (Check whether the totals of debits and credits are equal) It checks that debits equal credits, though it cannot reveal omissions, double entries or compensating errors.
Question 11
Answer: B (The owner has unlimited liability for debts) The owner has unlimited liability, so personal assets may be used to settle business debts.
Question 12
Answer: D (Deduct from the bank balance to arrive at the adjusted bank balance) They are issued but not yet paid by the bank, so the bank statement balance is still too high and they are deducted.
Question 13
Answer: B (Direct materials, direct labour and direct expenses) Prime cost is direct materials plus direct labour plus direct expenses; overheads are indirect.
Question 14
Answer: D ($4 000) Gross profit = sales − cost of goods sold = 12 000 − 8 000.
Question 15
Answer: A ($2 000) 40 000 × 5% = 2 000 (a deduction from receivables).
Section B answers and mark allocation
Question 1
(a) $13 800 − $2 000 unpresented = $11 800 (3 marks). (b) debit bank charges (an expense) and credit bank $200 (2 marks); the note collected is debit bank, credit notes receivable $600 (1 mark). The corrected cash book balance is 12 400 − 200 + 600 = $12 800.
Question 2
(a) (150 000 − 15 000) ÷ 5 = $27 000 (2 marks); (b) Dr depreciation expense $27 000, Cr accumulated depreciation – machinery $27 000 (3 marks); (c) 150 000 − 27 000 × 3 = $69 000 (2 marks).
Question 3
(a) 20 − 8 = $12 (2 marks); (b) 60 000 ÷ 12 = 5 000 units and revenue 5 000 × 20 = $100 000 (3 marks); (c) (60 000 + 24 000) ÷ 12 = 7 000 units (2 marks).
Where are Paper 1 marks most easily lost?
Direct answer: one-sided entries; depreciation without deducting the residual value; break-even calculated from the price instead of the contribution; and unpresented cheques added in the wrong direction on a bank reconciliation (they make the bank balance too high, so they are deducted).
Where these marks are usually lost
| Mistake | What it looks like | What it costs | Instead |
|---|---|---|---|
| One-sided entries | Debit only, or an amount with no double entry | Double entry must balance; a single side earns nothing | Write the debit, then the credit, then check they match |
| Forgetting residual value | Cost ÷ life | Residual value must come out first | Depreciation = (cost − residual) ÷ life |
| Wrong base for break-even | Using the price instead of the contribution | Break-even = fixed costs ÷ unit contribution | Work out the contribution first |
| Reconciliation direction | Adding unpresented cheques to the bank balance | They make the bank balance too high, so they are deducted | Decide which book has not yet recorded the item |
How to use this paper
First sit: no references, the full 60 minutes, a calculator only.
Mark it: check both sides of every entry and rewrite the steps of each calculation.
Second sit: finish inside 45 minutes with every entry balanced.
What should I do after this paper?
Direct answer: put the key formulas on one page (depreciation, contribution, break-even, gross margin); rewrite every wrong entry with both sides; drill past-paper questions by topic; and redo this paper three to seven days later.
FAQ
Is this an HKEAA paper?
No. The questions and answers are TutorZone originals; only the framework figures (25%, 1 hour, 17/8, Paper 2 at 75%) come from the HKEAA 2027 assessment framework.
Does BAFS have SBA?
No. The whole subject mark comes from Paper 1 (25%) and Paper 2 (75%).
What is in Paper 2?
The Elective Part: 75% over 2 h 30 min, roughly Section A 33%, Section B 27% (application problems or case studies) and Section C 15% (one long or essay question).
Official references
| Resource | What to check |
|---|---|
| HKEAA 2027 HKDSE BAFS Assessment Framework | Confirm Paper 1’s 25% in 1 hour (17/8) and Paper 2’s 75% |
| https://www.tutorzone.com.hk/en-dse-bafs-paper-1-2-drill-guide/ | Papers 1 and 2 drilling guide |
| https://www.tutorzone.com.hk/en-dse-bafs-past-paper-drill-guide/ | The full BAFS drilling guide |
Related: practice area · papers 1 and 2 guide · ICT Paper 1 mock
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