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15 marksFinancial Statements and Users of Accounting Information

CAPE Management of Business Unit 1 · 2017 · Paper 2 · Question 3(c)

Janet Palmer, owner-manager of Beautiful Flowers, prepared a flawed draft balance sheet as at December 31, 2016.

Use the provided information to prepare a corrected balance sheet for Beautiful Flowers as at December 31, 2016.

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Other parts of this question

  1. 3(a)(i)Define the term 'current assets'.[2 marks]
  2. 3(a)(ii)Define the term 'budgetary control'.[2 marks]
  3. 3(b)Explain two ways in which a business can benefit from having a cash budget.[6 marks]

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