CAPE Accounting Unit 1 · 2021 · Paper 2 · Question 1(b)
Differentiate between the terms 'accrual basis accounting' and 'cash basis accounting'.
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- 1(a)(i)List FOUR main users of financial statements.[4 marks]
- 1(a)(ii)State ONE purpose of financial statements for EACH of the users listed in (a)(i).[4 marks]
- 1(c)(i)Outline ONE benefit of a computerized accounting system to the process of independent internal verification.[2 marks]
- 1(c)(ii)Discuss the impact of the introduction of an integrated computerized accounting system on EACH of the following processes: • Recording of information • Access…[8 marks]
- 1(d)Prepare journal entries (without narratives) to record the transactions in 2019.[13 marks]
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