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Accounting Theories: May/June - 2018 7110/22

This document contains exam questions from past accounting theory exams covering various accounting concepts and terms. Some of the topics covered in the 3-sentence summaries are: The meaning of the term "refer to drawer"; why a trial balance totals agreed even with four errors; and why subscription paid in advance is shown as a liability. International Accounting Standards advantages are stated. Distinctions between bookkeeping and accounting are explained, as well as the meaning of depreciation and examples that cause it. Methods to depreciate different asset types are stated, along with advantages of double-entry records. Examples of statutory and non-statutory deductions from wages are given. Advantages of the straight-line depreciation method and meaning of

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Bijoy Salahuddin
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20 views1 page

Accounting Theories: May/June - 2018 7110/22

This document contains exam questions from past accounting theory exams covering various accounting concepts and terms. Some of the topics covered in the 3-sentence summaries are: The meaning of the term "refer to drawer"; why a trial balance totals agreed even with four errors; and why subscription paid in advance is shown as a liability. International Accounting Standards advantages are stated. Distinctions between bookkeeping and accounting are explained, as well as the meaning of depreciation and examples that cause it. Methods to depreciate different asset types are stated, along with advantages of double-entry records. Examples of statutory and non-statutory deductions from wages are given. Advantages of the straight-line depreciation method and meaning of

Uploaded by

Bijoy Salahuddin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Accounting Theories

May/June – 2018 7110/22


1. Explain the Term ‘Refer to drawer’
2. Explain why the trial balance totals agreed although there were four errors in
the books.
3. Explain why subscription paid in advance will be shown as a liability in the
statement of financial position of the W sports club.
4. State two advantages of Dharma of using International Accounting Standards
(IAS) when preparing his financial statements.
May June-2018 7110/23
1. Distinguish between book-keeping and accounting.
2. Explaining the meaning of term ‘Depreciation”
3. State two causes of depreciation of a motor vehicle.
4. State the method which would be most appropriate for depreciating each of the
following:
a. Buildings
b. Loose tools
c. Computers
5. State three advantages of komlie of keeping a set of double entry records.
6. Give one example for each of the following deductions made from an employee’s
wages.
a. Statutory deduction
b. Non-Statutory deduction
Oct/Nov 2017 7110/21
1. State two advantages of straight-line method.
2. Explain the term ‘revenue receipt’.
3. Give one example of a voluntary deduction
4. State two disadvantages of Digby Products of paying assembly workers using
the piecework basis.
5. State three ways in which Juan might increase his bank balance.
Oct/Nov 2017 7110/22

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