Financial Accounting May/June 2015

Question 6

  1. This question required candidates to prepare:

    (a)      Receipt and Payment Account.

    (b)     Income and Expenditure Account.

Observation

Candidates’ performance in this question was very good.  The were able to differentiate the items for Receipts and Payment Account from the item for Income and Expenditure Account.  The question was attempted by majority of the candidates.