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Learners and students are able to view and download past examination papers, solutions and markers comments on the Financial Management examination from the links below. 1) A financial analyst needs accounts information to (a) maintain the production section of the business (b) know why transactions cause increases and decreases in asset (c) advice on how to manage the business (d) know how to record transaction in T account ANS: C, 2) Creditors use accounting information for the purpose of (A) planning sales to a company (B) controlling a company’s affairs (C) investing in a company (D) assessing a company’ liquidity ANS: D, 3) In preparing accounting records, the owners of a business and the business are treated as (A) the same person (B) having business relationship (C) separate legal entities (D) Partners ANS: C, 4) One of the major features of bookkeeping is that it (a) provides permanent records for all financial transactions (b) is futuristic in nature (c) accepts responsibility for all wrong posting (d) does not give room for double entry procedure ANS: A, 5) The accounting principle which states that for every debit entry, there is a corresponding credit entry is recognized as ___ concept. The aims of this course are to develop the students understanding of management and cost financial accounting n5 past exam papers and answers accounting This PDF book provide managerial accounting tutorials document. On this page you can read or download Page 3/8 Past exams. (a) sales (b) purchase (c) discount received (d) interest received ANS: B, 26) Which of the following is the basic accounting equation? You can contribute in this forum posting your suggested answers and voting on the posted answers in the comment box below here. Home - Financial Accounting Exam Past Questions And Answers – PDF Documents. Digital question papers. financial accounting n5 report 191 nated question paper and memorundums fet college examination brought you by prepexam download for free of charge. Previous exam papers are also made available on this tool. Using past examination papers … Download Now. The double entry in John’s books is (a) debit rent account, credit bank account (b) debit rent account, credit John’s account (c) debit bank account, credit rent account (d) debit John’s account, credit rent account ANS: A. Exam Fee and Related Charges Accredited Training Institutions Examination Centres Financial Accounting is one of the core subjects for Senior Secondary school students in commercial classes. Here Is The Collection Of The Past Exam Papers To Download Select Subject Below . These Solved Past Papers Covers Whole Syllabus Of B. Com Part 1 Annual and Supply Papers 2020 Below are the list of Financial Accounting questions and answers and the PDF download link. Study Note 5, national 5, working Capital Management and Leverage Analysis. We will give a summary of what you are to expect from the Financial Accounting past questions and answer PDF document which we have provided below before we provide you with the Download link for the subject. 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(a) entity concept (b) periodicity concept (c) going concern concept (c) realization concept ANS: C, 8) The most important reason for studying accounting is that (a) the information provided by accounting is useful in making decisions (b) accounting plays an important role in a society (c)the study of accounting leads to a challenging career (d) accounting provides gross profit information ANS: A, 9) Which of the following accounting conventions suggests that accountants should use a method of valuation that understates rather than overstates result (a) Conservatism (b) Historical (c) Monetary (d) Cost ANS: A, 10) Which of the following concepts is expected to hold when a proprietor makes a drawing of goods or cash from the business? 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DOWNLOAD FREE MOCKS AND PAST PAPERS IN PDF . This is a rare opportunity you should take advantage of, please share this post to friends who might be in need of this study material. ANS: B, 14) Bola, UTC’s regular customer, owned N1000 on account of a radio bought. Financial AccountingSpecimen Exam applicable from June 2014 Paper F3 ... equivalent of 5% of the trade receivables based on past events. (a) Assets = capital + liabilities (b) capital = assets + liabilities (c) liabilities = assets + capital (d) assets = liabilities – equity ANS: A, 27) A system where a separate cash book is maintained for small payment is ____ (a) single entry (b) imprest (c) float (d) reimbursement ANS: B, 28) An analytical cash book is used to ___ (a) indicate sources of cash received (b) categorise petty cash payment (c) separate cash and bank balance (d) analyse amounts due from debtors ANS: B, 29) The sum of money given to a petty cashier out of which small payments are made is called (a) bonus (b) loan (c) advance (d) float ANS: D, 30) A rent of 250,000 was paid by John to his landlord by cheque. Financial accounting n5 past exam papers and answers. FINANCIAL REPORTING. ANS: A, 16) If salary account is debited instead of stationary account, the error committed is that of (a) commission (b) omission (c) principle (d) compensation ANS: A, 17) Ledger accounts is mainly classified into (a) nominal, real and personal account (b)fixed and current accounts(c) management, financial and public sector accounting (d) bank and cash accounts ANS: A, 18) One major advantage of a ledger is that it (a) is a book of original entry (b) is only accessible to shareholders during distribution (c) removes the need for preparing a balance sheet after each transaction (d) can be used by any type of business. Download Now. Varujeena Ismail. We will give a summary of what you are to expect from the Financial Accounting past questions and answer PDF document which we have provided below before we provide you with the Download link for the subject. FINANCIAL ACCOUNTING. These Past Papers Questions are the most Important Questions For Financial Accounting Exam. 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Part II - Financial Management - Past Exam Papers - SAICA. Kindly share with your friends because it would be of immense help to them. PDF. (adsbygoogle = window.adsbygoogle || []).push({}); After Watching For More Admission Updates. (a) buildings account (b) motor vehicle account (c) patents account (d) furniture account ANS: C, 25) Which of the following is not a revenue account? Get latest Cambridge IGCSE Accounting Past Papers, Marking Schemes, Specimen Papers, Examiner Reports and Grade Thresholds. PDF | On Aug 6, 2016, Anojan Vickneswaran published Financial Accounting Model Exam Paper | Find, read and cite all the research you need on ResearchGate The unit’s learning objectives also ask that you construct recognised financial and management statements, undertake accurate tasks, and give ... their meaning is clear Note that whilst suggested response areas in unit past . 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If he sent a cheque for N500, UTC would send him a (a) credit note (b) debit note (c) journal voucher (d) way bill ANS: A, 15) Books of original entry are used for (a) recording business transactions (b) the adjustment of accounts (c) reminding the book keeper to-post transactions in the ledger (d) informing the bookkeeper about the state of affairs. If yes, you can now download West African Senior School Certificate Examination (WASSCE) past papers to assist you with your studies. (a) John: N40 Dr, Cash: 40 Cr. CIAE IGCSE Accounting Past Papers section is uploaded with the latest CAIE IGCSE Accounting May June 2020 Past Paper. Important Notice:All payments made to your MYCIMA account from 10th December through to the 31st December will not be updated on your financial statement until 3rd January 2021. 11 Years Solved Past Papers of B. com Part 1 Punjab University PU Up to Date 2009-2019, contains Questions and Answers of B.com Part 1 papers. 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Financial Accounting November 2018 Past Examination Question Paper – KNEC This Past Paper examination was examined by the Kenya National Examination Council (KNEC) and it applies to the following courses Diploma in Supplies Chain Management Diploma in Business Management Diploma in Project Management Diploma in Maritime Transport Logistics Diploma in Cooperative Management … Financial accounting last years question papers with answers? Financial Accounting N5 Past Exam Papers And Answers Khuphula Nated Question Paper - Joomlaxe.com. 2020: National 5: Assignment PDF ... PDF (121KB) Tick to download 2019 N5 Accounting. Download Now. Accounting Test Paper Questions with Answers On Accounting For Depreciation Of Fixed Assets. There is a popular saying “Face your fears head on” when you do so fear dissipates by 50% if you do not face your fears you will not come to terms with the popular saying that Fear is a mirage, it does not exist, its the cooked up mental scenario by the mind. Download Now. 01. Accounting focuses on measuring performance, and processing and communicating financial information about economic sectors. (d) Cash: 20 Dr, John: N20 Cr. ANS: D, 19) Return inwards is also known as____ (a) purchases returns (b) sales returns (c) goods on sale of return (d) goods in transit ANS: B, 20) The account which refers to the tangible assets of a company that is of permanent  nature is the  (a) personal account (b) real account (c) nominal account  (d) cash account ANS: B, 21) The document that is used to acknowledge the acceptance of the return of goods by the seller from the buyer is known as (a) credit note (b) debit note (c) invoice (d) voucher ANS: A, 22) The effect of payment of a liability is that it (a) increases both assets and liabilities (b) increases assets and decrease liabilities (c) decreases assets and increases liabilities (d) decreases both assets and liabilities ANS: D, 23) The term posting in accounting refers to (a) recording entries in the journal (b) transferring the balances in the ledger to the trial balance (c) tracing amounts from the journal to the ledger to find errors (d) transferring entries to the ledger from the journal. 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Since the Financial accounting questions all have answers attached to them there would most likely be no need for questions, however, we still entertain questions and your inputs on the subject matter via our comment section below or our contact us page so we can keep udating this contents and adding new questions and answers as they come. It is because of the phobia for the calculations involved in this subject that students prefer Art classes where there are lesser calculation subjects and also most courses in the university for students in art classes do not require mathematics as a compulsory requirements and the few who manage to go for it prefer searching for any Financial Accounting exam past question and answer booklet and cramming the questions and answers instead of studying the required text books to understand the subject better. 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FREE CPA Downloads. sANS: A, 12) A sales Day Book is used for recording___ (a) credit sales (b) sales returns (c) hire purchase (d) cash sales ANS: A, 13) A trial balance is usually prepared by an accountant from account balances in the ledger for the purpose of (a) classifying in the ledger (b) testing arithmetical accuracies of the ledger account balance (c) identifying the balance sheet items (d) providing a basis for establishing the accountant’s competence. Download Financial Accounting November 2019 Past Paper. The above is the summary of what is contained in the Financial Accounting past questions and answers in the PDF file below. The past exam papers used as a way of practicing the concept emphasized in the study guide for this module Compiled by Levison Kamanga (check his profile on www.lucianotutorials.com), for and on behalf of “Inspired to impact with a difference” All the questions in this pack were taken from previous exam papers. 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