cameroon gce intermediate level 2025 ohada financial accounting 1
cameroon gce intermediate level 2025 ohada financial accounting 1
- The standard rate of VAT in Cameroon is
- A. 15.5%
- B. 17.5%
- C. 19.5%
- D. 19.25%
- OHADA recommends the use of the
- A. two columns trial balance.
- B. six columns trial balance.
- C. four columns trial balance.
- D. eight columns trial balance.
- Identify the non-taxable transaction from the list below:
- A. Purchase of pharmaceutical products.
- B. Banking transactions.
- C. Importation of goods.
- D. Sales of fixed assets.
- Recording is to the journal as posting is to the
- A. Ledger.
- B. Journal.
- C. trial balance.
- D. income statement.
- When a buyer buys goods in bulk, the supplier may grant a
- A. cash discount
- B. trade discount
- C. bad debts
- D. return inwards
- A ……….. is a document sent by a supplier to the customer when goods are returned.
- A. sales invoice
- B. debit note
- C. proforma invoice
- D. credit note
- A system of recording transaction in a single journal is called
- A. classical recording
- B. classical system
- C. standard system
- D. cash system
- A book that contains all the accounts of an entity is called a
- A. ledger
- B. trial balance
- C. journal
- D. subsidiary book
- The expenses considered in cost accounting when calculating costs are best described as
- A. non incorporable expenses
- B. general expenses
- C. incorporable expenses
- D. cost expenses
- The cost of production is determined as follows:
- A. Purchase cost + direct and indirect production expenses
- B. Cost of raw materials used + direct and indirect production expenses
- C. Cost of raw materials used + direct production expenses
- D. Purchase cost +direct production expenses
- Which of the following is also known as an overhead expense?
- A. Cost of direct labour
- B. Cost of materials
- C. Direct expenses
- D. Indirect expenses
- The accounting document which gives details of all financial transactions carried out by a business within a given period is called a
- A. journal.
- B. balance sheet.
- C. financial statement.
- D. trial balance.
- …………….. are liable to VAT at the zero rate.
- A. Agricultural inputs
- B. Pharmaceutical product
- C. All imports
- D. Export
- The difference between the VAT collected on sales and the VAT paid on purchases is called
- A. VAT due/ VAT credit
- B. VAT due
- C. VAT credit
- D. VAT payable
- In OHADA Accounting, the management accounts are found in
- A. Class 6 to class 8.
- B. Class 1 to class 5.
- C. Class 6 to class 9.
- D. Class 3 to class 5.
- The balance sheet accounts in OHADA Accounting ranges from
- A. Class 1 to class 6.
- B. Class 2 to class 5.
- C. Class 6 to class 8.
- D. Class 1 to class 5.
