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Financial Accounting Paper 2, Nov/Dec 2007  
Questions: 1 2 3 4 5 6 7 8 9 Main
General Comments
Weakness/Remedies
Strength












Question 6

This was a question in Single Entry and Incomplete Records. Candidates were required to prepare.

(i) opening and closing statement of affaires
(ii) profit and loss statement
(iii) balance sheet

 

_____________________________________________________________________________________________________

observation

The performance in this question was average. Many candidates could not prepare the opening and closing statement of affairs so as to ascertain in the opening and closing capitals. Hence, they could not prepare the profit and loss statement to ascertain in profit.


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