Explain the following:

1. imprest system;
2. petty cash book;
3. memorandum entries;
4. three-column cash book;
5. journal proper.

observation

Majority of the candidates attempted this question and performed well.  However, there were mixed up of general source documents with that of cash book in question 1c. 

The expected answer to 1(c) include:

1c.     Source documents used in preparing cash book are:

• Pay-in-slips;
• Receipts;
• Cheques;
• Payment vouchers;
• Bank statements;

Cheque counterfoil/stub.