Section B: Financial Accounting Practice
Question 6:
In this question, candidates were required to prepare:
(a) Subscriptions Account;
(b) Rent Account;
(c) Salaries Account;
(d) Statement of Accumulated fund.
Observation
Few candidates attempted this question on ledger of not-for-profit making organization and the performance was average. Candidates’ weaknesses were expressed in their mis-interpretation of double entry principles.