In this question, candidates’ were required to prepare:
(a) Statement of Affairs;
(b) Receipts and Payments Account;
(c) Subscriptions Account;
(d) Income and Expenditure Account.
Candidates’ performed very well in Receipts and Payments Account, Subscription Account and Income and Expenditure Account. They did badly in the Statement of Affair because they did not use the right method of calculating Accumulated Fund.
