CAPE Accounting Unit 1 · 2009 · Paper 2 · Question 1(b)
Define the term 'due process' as it relates to the development of accounting standards.
The mark scheme is shown once you've answered.
Practise this questionOther parts of this question
- 1(a)List the FIVE characteristics and match EACH with the appropriate definition by selecting the correct letter from the table.[5 marks]
- 1(c)(i)What is the meaning of the term 'internal control'?[2 marks]
- 1(c)(ii)What is the role of internal control in a business organization?[3 marks]
- 1(c)(iii)Why are internal controls important for inventory (stock)?[3 marks]
- 1(c)(iv)Identify TWO internal controls that should be put in place for accounts receivable (debtors).[2 marks]
- 1(d)(i)Prepare journal entries with narratives to correct the four errors described.[16 marks]
- 1(d)(ii)Prepare a statement showing the necessary adjustments to the profit.[2 marks]
More practice: the rest of this paper · more Accounting Standards and Conceptual Framework questions · all CAPE Accounting Unit 1 past papers