Answers

(a) Give reasons for including outstanding liabilities in the Balance Sheet (b) How do you record an income generating activity…

(a) what are the sources of revenue to a federal government (b) What are the advantages of cash…

(a) Outline three distinguished features of public and private companies. (b) State three rights available to an ordinary…

(a) What is depreciation of an asset? (b) List three causes of depreciation. (c) Explain the following methods…

(a) List four items each that are found on the (i) credit side of the sales ledger control…

(a) Explain some of the terms used in the accounts for not-for-profit making organizations (b) Distinguish between shares…

(a) What is a Suspense Account (b) Differentiate between the following; (i)  Provisions and Reserves (ii) Expenses and Revenue (iii) Capital…

(a) Accounting ratios (b) Eplain the following i. Accounting ratios ii. Current ratio iii. Rate of stock turnover iv. Return on capital…

(a) Explain the following terms; i. Trade discount ii. Cash discount iii. Bad debts iv. provision for doubtful debts v.…

1) Differentiate between Public sector accounting and Private sector accounting 2) Sources of revenue for a local government…