Older MCQs might not have the typical A, B, C,
D
choices. They
have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such
combinations to the answer.
A
1, 2 and 3 are correct
B
1 and 2 only are correct
C
2 and 3 only are correct
D
1 only is correct
the role of books of prime entry in the recording of business transactions: sales journal, sales returns journal, purchases journal, purchases returns journal, cash book, general journal
how to calculate and record the adjustments needed and the effect on financial statements in respect of: accruals and prepayments of income and expenses, irrecoverable debts, irrecoverable debts recovered and allowance for irrecoverable debts, depreciation, inventory valuation, correction of errors
how to account for manufacturing profit and the elimination of unrealised profit from unsold inventory