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Accounting For Assets Question Paper

Accounting For Assets 

Course:Bachelor Of Commerce

Institution: Kenyatta University question papers

Exam Year:2011



KENY ATT A UNIVERSITY
UNIVERSITY EXAMINATIONS 2008/2009
SECOND SEMESTER EXAMINATION FOR THE DEGREE OF BACHELOR
OF COMMERCE
BAC 200:
ACCOUNTING FOR ASSETS
DATE:
Monday, ih September, 2009
TIME: 8.00 a.m. - 10.00 a.m.
INSTRUCTIONS:
Answer ALL questions.
1.
Describe briefly what is meant by the following characteristics
of accounting
information.
a)
Understandability
b)
Relevance
c)
Reliability
d)
Comparability
e)
Consistency
(10 marks)
2.
The bank statement of Avery Ltd showed a balance of Sh.l ,002, 130 as at 30th
.Iune 2009 while the cashbook showed a balance of Sh. 765,300.
An examination
of the cashbook and the bank statement and other records revealed the following:-
i)
There were bank service charges of Sh.3,500 for the month of June.
ii)
A deposit of Sh.45,500 through the ATM on so" June did not appear in
./
the bank statement.
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