This is the Accounting Grade 12 Paper 1 June examination from the Free State, worth 150 marks and to be completed in 2 hours. Question 1 uses the company Tsoaedi Ltd, which supplies and installs generators, to test the calculation of closing stock, missing figures in the Fixed Asset Note, the Retained Income Note, and the Statement of Financial Position.
The following document, Accounting Grade 12 Paper 1 Term 2 Exam.pdf, is the full document.
Term 2 Content Brief
Accounting Grade 12 Paper 1 Term 2 Exam PDF CTC-022
Key terms covered include closing stock, the Fixed Asset Note, the Retained Income Note, and the Statement of Financial Position.
The paper consists of 10 pages plus a formula sheet and a 10 page answer book. Question 1, worth 55 marks over 45 minutes, covers the Statement of Financial Position and its supporting notes. Later questions cover cash flow statements and financial indicators, interpretation of company financial information, and corporate governance.
By the end of this paper, learners should be able to calculate closing stock and missing fixed asset figures, complete the Retained Income Note, and prepare the Statement of Financial Position for a company.