Grade 8 Accounting November Test Paper 1 and Memo - 2024

Datum / Date: NOVEMBER 2024
Tyd / Time: 2 HOURS
Punte / Marks: 90 MARKS
Graad / 8
Grade:
Vak / Subject: EMS FINANCIAL LITERACY (ACCOUNTING)
Vraestel / 1
Paper:


Naam en Van / Name and
Surname:


General instructions for the writing of exams:

1. Quickly scan through your entire paper.
2. Read the question twice before you begin.
3. Make sure to answer ALL questions.
4. Write neatly and legibly.
5 If you struggle too much with a question, move on to the next one and return
once you have answered all the other questions.
6. If the question calls for a longer answer, plan before you start writing.
7. For any answer longer than 1-2 words, always write in full sentences.
8. Make sure every point you make refers 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 out clearly with a single, neat line and write the
correct answer instead.
11. Number the answers correctly according to the numbering system used in this
question paper.
12. Present your answers according to the instructions for each question.


Good luck with your exam!




Bl / Pg 1/8 www.summariessa.co.za Opsteller /
DAN SMI
Author:
Graad / Vak / EMS Datum / Date:
Grade: 8 Subject: (ACCOUNTING NOV 2024
)

, QUESTION 1

Various options are provided as possible answer to the following
question. Choose the correct answer and only write down the correct
letter next to the question number.

1.1 (1)
What is the primary purpose of a general ledger?
A. To record individual transactions
B. To summarise all accounts and transactions
C. To manage cash payments
D. To issue invoices

1.2 (1)
In the double-entry bookkeeping system, every transaction
must be recorded in:
A. Two different journals
B. Two different ledgers
C. At least two accounts with equal debits and credits
D. One journal and one ledger

1.3 (1)
Which document typically records cash payments in a cash
payment journal?
A. Sales invoice
B. Bank statement
C. Cash receipt
D. EFT


1.4 When posting to the ledger from the cash payment journal, (1)
what should you ensure?
A. All transactions are posted in chronological order
B. Debits and credits are equal
C. Only cash transactions are posted
D. Transactions are posted to the wrong accounts



Bl / Pg 2/8 www.summariessa.co.za Opsteller /
DAN SMI
Author:
Graad / Vak / EMS Datum / Date:
Grade: 8 Subject: (ACCOUNTING NOV 2024
)

, 1.5 What is the main difference between a cash receipts journal
(CRJ) and a cash payments journal (CPJ)?
A. CRJ records all transactions, while CPJ only records cash
inflows
B. CRJ records cash inflows, while CPJ records cash outflows
C. CRJ is used for bank transactions, while CPJ is used for
petty cash
D. CRJ is only used for recording payments, while CPJ
records receipts


[5]


QUESTION 2

Match the terms in column A with the description in column B. Write only
the letter next to the question number.

Column A Column B
The money or assets invested by the
2.1 Debit A
owner in the business.
The costs incurred by the business to
2.2 Capital B
generate income.

An entry on the left side of an account,
2.3 Income C
indicating an increase in assets.
Original records that provide evidence of
2.4 Expenses D
a financial transaction.
The money earned by the business from
2.5 Source documents E
its operations.




Bl / Pg 3/8 www.summariessa.co.za Opsteller /
DAN SMI
Author:
Graad / Vak / EMS Datum / Date:
Grade: 8 Subject: (ACCOUNTING NOV 2024
)