This is an Accounting Grade 11 provincial standardised assessment from KwaZulu-Natal, dated June 2026, worth 150 marks and to be completed in 2 hours. Question 1, worth 45 marks over 32 minutes, opens with accounting concepts such as bank overdraft interest, consumable stores on hand, and the current portion of a loan, before using Fanyaza Traders to test the preparation of the Statement of Comprehensive Income.
The following document, Accounting Grade 11 Term 2 Provincial Assessment.pdf, is the full document.
Term 2 Content Brief
Accounting Grade 11 Term 2 Provincial Assessment PDF GRE-052
Key terms covered include bank overdraft interest, consumable stores on hand, the current portion of a loan, working capital, and the Statement of Comprehensive Income.
The paper consists of 10 pages plus a special answer booklet of 8 pages and a formula sheet, and has four compulsory questions. Question 1 covers concepts and the Statement of Comprehensive Income. Later questions cover the Statement of Financial Position and notes, financial indicators, and interpretation of financial information.
By the end of this paper, learners should be able to explain key accounting concepts such as consumable stores and the current portion of a loan, and prepare the Statement of Comprehensive Income for a business.