Datum / Dates: September 2024
Tyd / Time: 1 hour 30 minutes (1 ½ hours)
Punte / Marks: 100
Graad / Grades: 11
Vak / Subject: Accounting
Vraestel / 1
Paper:
Name and Surname:
General instructions for writing tests:
1. Quickly go through your entire paper.
2. Read a question twice before starting it.
3. Make sure you answer all questions.
4. Write neatly and legibly.
5 If you have too much trouble with a question move on to the next question and
come back after all other questions have been answered.
6. For longer questions make sure you plan your answer before you start writing.
7. For any answer longer than 1-2 words always write in complete sentences.
8. Make sure each point refers back to the central question.
9. Use correct grammar spelling and punctuation to the best of your ability.
10. If you make a mistake cross it clearly with a single neat line and write down the
correct answer.
11. Number the answers correctly according to the numbering system in this
question paper.
12. Suggest your answers correctly according to the instructions of each question.
Good luck with your exam!
Topics covered in this paper
GAAP principles
Income statement and adjustments
Asset Sales
Partnerships (Private Accounts)
Notes to the balance sheet
Bl / Pg 1/ 8 www.summariessa.co.za Opsteller / DAN SMI
Author:
Graad / 11 Vak / Accounting Datum / Dates: SEPT2024
Grade: Subject:
, QUESTION 1 – GAAP PRINCIPLES
1.1 Match the given words in the block with the statements.
Historical costs; materiality ; pairing
business entity ; prudence; going concern
1.1 A company records R100 000 income and related costs of R50
000 in the same period to match earnings with costs.
1.2 A profitable retail store prepares financial statements on the
assumption that it will continue indefinitely without valuing
assets at liquidation prices.
1.3 A company records machinery at the original cost of R200 000
regardless of market value changes.
1.4 An owner of a bakery keeps the bakery's finances separate
from personal finances and records any personal withdrawals
as withdrawals.
1.5 A small business records R50 for office supplies immediately
as this is insignificant compared to a large amount such as
R50000.
1.6 A company does not record R100000 expected income until it
is certain and records potential lawsuit losses earlier than
liabilities.
(6 x 1)(6)
[6]
Bl / Pg 2/ 8 www.summariessa.co.za Opsteller / DAN SMI
Author:
Graad / 11 Vak / Accounting Datum / Dates: SEPT2024
Grade: Subject:
Tyd / Time: 1 hour 30 minutes (1 ½ hours)
Punte / Marks: 100
Graad / Grades: 11
Vak / Subject: Accounting
Vraestel / 1
Paper:
Name and Surname:
General instructions for writing tests:
1. Quickly go through your entire paper.
2. Read a question twice before starting it.
3. Make sure you answer all questions.
4. Write neatly and legibly.
5 If you have too much trouble with a question move on to the next question and
come back after all other questions have been answered.
6. For longer questions make sure you plan your answer before you start writing.
7. For any answer longer than 1-2 words always write in complete sentences.
8. Make sure each point refers back to the central question.
9. Use correct grammar spelling and punctuation to the best of your ability.
10. If you make a mistake cross it clearly with a single neat line and write down the
correct answer.
11. Number the answers correctly according to the numbering system in this
question paper.
12. Suggest your answers correctly according to the instructions of each question.
Good luck with your exam!
Topics covered in this paper
GAAP principles
Income statement and adjustments
Asset Sales
Partnerships (Private Accounts)
Notes to the balance sheet
Bl / Pg 1/ 8 www.summariessa.co.za Opsteller / DAN SMI
Author:
Graad / 11 Vak / Accounting Datum / Dates: SEPT2024
Grade: Subject:
, QUESTION 1 – GAAP PRINCIPLES
1.1 Match the given words in the block with the statements.
Historical costs; materiality ; pairing
business entity ; prudence; going concern
1.1 A company records R100 000 income and related costs of R50
000 in the same period to match earnings with costs.
1.2 A profitable retail store prepares financial statements on the
assumption that it will continue indefinitely without valuing
assets at liquidation prices.
1.3 A company records machinery at the original cost of R200 000
regardless of market value changes.
1.4 An owner of a bakery keeps the bakery's finances separate
from personal finances and records any personal withdrawals
as withdrawals.
1.5 A small business records R50 for office supplies immediately
as this is insignificant compared to a large amount such as
R50000.
1.6 A company does not record R100000 expected income until it
is certain and records potential lawsuit losses earlier than
liabilities.
(6 x 1)(6)
[6]
Bl / Pg 2/ 8 www.summariessa.co.za Opsteller / DAN SMI
Author:
Graad / 11 Vak / Accounting Datum / Dates: SEPT2024
Grade: Subject:
