Ecz Principles of Accounts grade 12 2015 paper 1
1) If Mututwa buys goods for resale from Mabote on credit, the correct Mututwa’s ledger would be …
A debit Purchases Account and credit Mututwa’s Account.
B credit Purchases Account and debit Mututwa’s Account.
C debit Purchases Account and credit Mabote’s Account.
D credit Purchases Account and debit Mabote’s Account.
2) Owner’s equity refers to …
A the equality of owners.
B net profit or net loss,
C owner’s capital.
D owner’s assets.
3) Which of the following is not a Revenue Account?
A Wages Account
B Commission Received Account
C Sales Account
D Rent Received Account
