Question 4
Candidates were asked:
- What is pricing?
- Explain the following books with an example of source document for each:
- Purchase day book
- Sales day book
- Returns outwards book
- Returns inwards book
- Petty cash book
- Cash book.
Observation
- Large number of candidates provided answers to this question although a large number of responses demonstrated a low level of understanding of the concept of pricing.
- Many candidates scored some good marks in explaining cash book and petty cash book. The rest question in this part was not well answered by the candidates and the candidates performed poorly in giving examples of source document for subsidiary books in this question.