cameroon gce A level 2024 financial accounting 1
cameroon gce A level 2024 financial accounting 1
SECTION A: FINANCIAL ACCOUNTING (OHADA)
7. Whal is the deprecation rate of a fixed asset
purchased with a life span of 10 years and
depreciated according the reducing balance
method?
A 10 %
B 15%
C 20%
D 25%
1. An enterprise purchased goods worth 100,000
CFAF before VAT and paid transport expenses of
11,925 CFAF VAT inclusive. What amount will be
debited to account 31–Stock of goods?
A 111,925 CFAF.
B 131,175 CFAF.
C 110,000 CFAF.
D 100,000 CFAF.
8. You are to buy an existing business for 7,140,000.
Its assets include a building valued at 500,000
CFAF, a motor vehicle valued at 1 ,500,000 CFAF,
fixtures valued at 5,000,000 CFAF and stock
valued at 1 10,000 CFAF. This means that
A you are paying 140,000 CFAF for
goodwill.
B you are over charged by 30,000frs
C you are paying 30,000 CFAF for
goodwill.
D they are selling at a loss of 30,000frs
2. An enterprise realised that in establishing an
invoice to one of the customers, the net payable
was understated. Which commercial document is
established to correct this error?
A Receipt.
B Invoice.
C Debit note.
D Credit Note.
*»
3. On an invoice with discounts, which of this
discount is recorded alongside the invoice?
A Cash discount with condition.
B Cash discount without condition.
C Trade discount with condition.
D Trade discount without condition.
9. A bank reconciliation statement is a statement
A sent by the bank when an account is
overdrawn.
B drawn up by customer to verify the cash
balance with the bank statement balance.
C drawn up by the bank to verify the cash
book.
D sent by the bank when we have made an
error.
4. In respecting the historical cost concept, the entry
– value of goods produced by an enterprise is the
A production cost.
B purchased cost plus the production cost.
C purchased cost.
D prime cost.
10. When presenting a depreciation schedule, the net
accounting value at the end of the useful life of the
asset is usually zero. In a case where it is not zero,
what is the value called?
A The Salvage Value.
B The realisable Value.
C The Expected Value.
D Second– hand value.
5. An enterprise purchased transport equipment worth
5,100,000 CFAF on January 1, 2020 with a residual
value of 100,000 CFAF. It’s depreciated according
.
to the sum of years’ digits method for 4years. What
is the depreciation charge in the year ended 2021.
A 2
,000,000 CFAF.
B 1,500,000 CFAF.
C 1,000,000 CFAF,
D 500,000 CFAF.
11. An entity sold goods worth 700,000 FCFA. The
entity uses the Permanent Inventory System; with a
margin ol 20% on sales. Which amount is used in
recording the exit of goods from stock?
A 700,000 CFAF.
B 140,000 CFAF.
C 840,000 CFAF.
D‘ 560,000 CFAF.
6. An enterprise received in advance, annual rental
revenue of 2 400 000CFAF on October 1 st 2022. On
the balance sheet date of 2022, prepaid rental
revenue will be equal to
A 2,000,000 CFAF.
B 600,000 CFAF.
C 3,000,000 CFAF.
D ’ 1,800,000 CFAF.
