Grade 10 Acc Exam

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NATIONAL SENIOR CERTIFICATE

GRADE 10

ACCOUNTING EXEMPLAR PAPER - 2006

MARKS: 300 TIME: 2 hours

This question paper consists of 15 pages.

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Accounting

2 NSC

DoE/Exemplar

INSTRUCTIONS AND INFORMATION 1. 2. You are provided with a question paper and an answer book. The paper comprises FOUR compulsory questions. The compulsory questions are QUESTIONS 1, 2, 3 and 4. Answer ALL these questions. You must also answer ONE other question; either QUESTION 5 OR Question 6. Use the answer book provided in order answer the questions. Workings must be shown in order to achieve part-marks. You must attempt to comply with the suggested time allocations. Non-programmable calculators may be used. You may use pencil or blue/black ink to answer the questions. QUESTION 1: 40 marks; 30 minutes The topic of the question is: Recording information and internal control The learning outcomes covered are: LO1 Financial information - AS2 Use of source documents and ledger LO3 Managing resources - AS4 Ledger for perpetual inventory system - AS6 Knowledge of internal control

3.

4. 5. 6. 7. 8.

QUESTION 2: 30 marks; 25 minutes
The topic of the question is: Cost concepts The learning outcomes covered are: LO2 Managerial accounting - AS2 Identify basic cost concepts

QUESTION 3: 100 marks; 55 minutes
The topic of the question is: Financial statements and concepts The learning outcomes covered are: LO1 Financial information - AS1 Explain accounting concepts - AS5 Prepare financial statements of sole traders

QUESTION 4: 65 marks; 40 minutes
The topic of the question is: Budget concepts The learning outcomes covered are: LO2 Managerial accounting - AS3 Explain basic budget concepts LO3 Managing resources - AS2 Salaries & wage scales - AS5 Code of ethics

CHOOSE EITHER QUESTION 5 OR QUESTION 6 QUESTION 5: 65 marks; 30 minutes The topic of the question is: Interpreting financial statements The learning outcomes covered are: LO1 Financial information - AS5 Financial statements of sole traders

QUESTION 6: 65 marks; 30 minutes
The topic of the question is: Informal and formal accounting systems Copyright reserved The learning outcomes covered are: LO1 Financial information - AS2 Use of source documents & ledger - AS5 Financial statements of sole traders

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Accounting

3 NSC

DoE/Exemplar

QUESTION 1: 1.1

RECORDING INFORMATION AND INTERNAL CONTROL

SOURCE DOCUMENTS June Julies owns a bookshop. She has set up a formal accounting system, and she has had the following source documents in place for her business: Invoices, Credit Notes, Debit Notes, Cheques, Deposit slips, Receipts, Cash slips/Cash register tapes, Petty Cash vouchers, General Journal vouchers However, as she did not study Accounting at school, June does not know why each document is needed. REQUIRED: In the table provided in the answer book, indicate the name of the document that would fulfil the purpose explained. The first one has been done for you as an example. Purpose e.g. 1.1.1 1.1.2 1.1.3 1.1.4 This document records payments made out of petty cash This document is used to record money received from a customer for a cash sale of stock to him This document is used to record a credit sale to a customer This document is used to deposit money into the bank account of the business This document is used to pay a supplier for an amount owed to him, using money in the business’ bank account This document is used to record stock returned by a credit customer This document is received from a creditor for goods bought on credit by the business This document is used to put through various entries in the General Journal, e.g. writing off bad debts This document is used to return goods to a creditor Name of document Petty Cash voucher

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1.1.5 1.1.6 1.1.7

1.1.8

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Accounting

4 NSC

DoE/Exemplar

1.2

TRANSACTIONS OF JULIES BOOKSHOP In...
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