Summary ICB FNST

The purpose of the Trial Exam Paper is
to assist you in your preparation for the
ICB Summative Assessment. Please
note that this is a ‘mock’ exam and not
an actual assessment. It is also by no
means exhaustive or prescriptive, and
the ICB may present alternative
assessment questions. The Trial Exam
Financial Statements Paper is an assessment preparation
tool and should not replace your
studying the content and outcomes.

Your final ICB assessment will consist
Trial assessment of 3 sections. Section A will be Multiple
choice questions. Section B will be

Solutions compulsory long questions. Section C
will comprise of 3 questions; you will
have a choice to answer 2 of the 3
questions. The below mark allocations
are merely illustrative and may differ
from your final assessment. It will be 3
½ hours long, and consist of 180 marks.




SECTION A: SHORT QUESTIONS - COMPULSORY

QUESTION 1: 20 MULTIPLE CHOICE QUESTIONS 40 MARKS

SECTION B: ALL QUESTIONS ARE COMPULSORY

QUESTION 1: YEAR-END ACCOUNTING FOR A SOLE PROPRIETORSHIP 80 MARKS
QUESTION 2: PARTNERSHIPS ACCOUNTING 20 MARKS

SECTION C: CHOOSE 2 OF 3 QUESTIONS

QUESTION 1: CORPORATE REPORTING AND DEPARTMENTAL ACCOUNTS 20 MARKS
QUESTION 2: CASH FLOW AND IFRS (IMPAIRMENT) 20 MARKS
QUESTION 3: CORPORATE REPORTING AND CLUB ACCOUNTS 20 MARKS

, Section A: Short questions - Compulsory


QUESTION 1 MULTIPLE CHOICE QUESTIONS


1.1. C
1.2. A
1.3. C
1.4. D
1.5. A
1.6. C
1.7. D
1.8. C
1.9. A
1.10. B
1.11. D
1.12. A
1.13. C
1.14. D
1.15. A
1.16. C
1.17. B
1.18. A
1.19. D
1.20. A