cp15-principles-of-accounting
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DATE 06 Dec 2025
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About This Document
Document Type: This is a Study Notes, designed for Reviewing core curriculum material.
Context: Standard material from the 2021 academic period.
Key Content: Likely covers essential definitions, structured questions to test your proficiency.
Study Strategy: Summarize these notes into flashcards or mind maps to aid active recall and long-term retention.
Recommendation: comprehensive resource for students aiming to deepen their understanding of General Studies.
Detailed Content Overview
Introduction
This notes resource titled "cp15-principles-of-accounting" contains valuable educational content for academic study and reference. This resource is structured to facilitate effective learning and retention of important information.
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Learning Objectives
- Develop comprehensive understanding of key topics
- Apply learned concepts to real-world scenarios
- Strengthen critical thinking and analytical skills
- Achieve academic excellence in notes
Detailed Summary
CCP FOUNDATION LEVEL PILOT PAPER December 2021. PRINCIPLES OF ACCOUNTING Time Allowed: 3 hours. Marks allocated to each question are shown at the end of the question. QUESTION ONE (a) Explain the following concepts: (i) Going concern concept. (2 marks) (ii) Error of Commission. (2 marks) (iii) Error of principle. (2 marks) (8 marks) (Total: 20 marks) QUESTION TWO The following trial balance was extracted from the books of Jacob Barasa, a sole proprietor as at 31 March 2021: Sh. ch (c) Explain four functions of accounting. Bank balance Inventory (1 April 2017) Trade receivables and trade payables Drawings Allowance for doubtful debts (1 April 2017) Bad debts written off Wages General expenses Rent and rates Purchases and sales Capital account Freehold land and buildings at cost Motor vehicles at cost Accumulated depreciation on motor vehicles (I April 2017) o. op (i) ke (b) Describe the following types of errors: Sh. Rent and rates amounting to Sh 300,000 were prepaid as at 31 March 2021. During the year, Barasa took goods costing Sh 1,250,000 for his own use.
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CCP FOUNDATION LEVEL PILOT PAPER December 2021. PRINCIPLES OF ACCOUNTING Time Allowed: 3 hours. Answer ALL questions. Marks allocated to each question are shown at the end of the question. Show ALL your workings. QUESTION ONE (a) Explain the following concepts: (i) Going concern concept. (2 marks) (ii) Consistency concept. (2 marks) (iii) Materiality concept. (2 marks) (ii) Error of Commission. (2 marks) (iii) Error of principle. (2 marks) (8 marks) (Total: 20 marks) QUESTION TWO The following t...
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