Gr. 9 Economic and Management Science
Accounting
Formal test – Term 2
Total: 50 marks Time: 1 hour
Learner’s name: ____________________________________ Gr. 9: ___________.
Instructions and information:
This question paper consists of two questions, answer both questions.
The use of a calculator is not allowed.
No Tip – Ex may be used.
Show all the steps that were required in order to get to the answer.
Good luck!!
Content covered in this paper
Accounting concepts
Classification of accounts
Calculating cost price, selling price and profit
Credit transactions and theory of cash transactions
Cash Payment Journal
Cash Receipt Journal
, SECTION A
QUESTION 1
1.1 State wheter the following statement is true of false:
1.1.1 In a trail balance capital will be entered on the debit side.
1.1.2 A loan is classified as an asset.
1.1.3 When trading stock is bought, bank will increase and trading stock will decrease
1.1.4 The national credit Act is used to ensure fair and resposible lending practices.
1.1.5 Sales will increase owners equity.
(5 x 1)(5)
1.2 Complete the following statements by underlining the correct word in brackets.
1.2.1 The debit side must always (be more than ; be equal to) the credit side in a trail
balance.
1.2.2 Drawing is an owners equity but we treat it like an (expense ; income).
1.2.3 In the general ledger income and expenses will start with (totals ; balances)
1.2.4 Land and buildings will be classified as an assets, which means in the general ledger
this account will (increase / decrease) on the debit side.
1.2.5 The formula for calculating profit is :
(cost price + sales price / sales price – cost price)
(5 x 1)(5)
TOTAL SECTION A : 10 MARKS
2|Page www.summariessa.co.za E M S – A c c o u n ti n g
Grade 9 June Paper 2
Accounting
Formal test – Term 2
Total: 50 marks Time: 1 hour
Learner’s name: ____________________________________ Gr. 9: ___________.
Instructions and information:
This question paper consists of two questions, answer both questions.
The use of a calculator is not allowed.
No Tip – Ex may be used.
Show all the steps that were required in order to get to the answer.
Good luck!!
Content covered in this paper
Accounting concepts
Classification of accounts
Calculating cost price, selling price and profit
Credit transactions and theory of cash transactions
Cash Payment Journal
Cash Receipt Journal
, SECTION A
QUESTION 1
1.1 State wheter the following statement is true of false:
1.1.1 In a trail balance capital will be entered on the debit side.
1.1.2 A loan is classified as an asset.
1.1.3 When trading stock is bought, bank will increase and trading stock will decrease
1.1.4 The national credit Act is used to ensure fair and resposible lending practices.
1.1.5 Sales will increase owners equity.
(5 x 1)(5)
1.2 Complete the following statements by underlining the correct word in brackets.
1.2.1 The debit side must always (be more than ; be equal to) the credit side in a trail
balance.
1.2.2 Drawing is an owners equity but we treat it like an (expense ; income).
1.2.3 In the general ledger income and expenses will start with (totals ; balances)
1.2.4 Land and buildings will be classified as an assets, which means in the general ledger
this account will (increase / decrease) on the debit side.
1.2.5 The formula for calculating profit is :
(cost price + sales price / sales price – cost price)
(5 x 1)(5)
TOTAL SECTION A : 10 MARKS
2|Page www.summariessa.co.za E M S – A c c o u n ti n g
Grade 9 June Paper 2
