This is an Accounting Grade 12 examination from Limpopo, dated 17 March 2026, worth 100 marks and to be completed in 90 minutes. Question 1, worth 40 marks over 30 minutes, uses Moretele Ltd to test completing the Statement of Comprehensive Income, the Retained Income note, and the Equity and Liabilities section of the Statement of Financial Position.
The following document, Accounting Grade 12 Term 1 Exam.pdf, is the full document.
Term 1 Content Brief
Accounting Grade 12 Term 1 Exam PDF NNO-112
Key terms covered include the Statement of Comprehensive Income, the Retained Income note, and the Equity and Liabilities section of the Statement of Financial Position.
The paper consists of 9 pages plus a formula sheet and an 8 page answer book. Question 1 covers company financial statements. Later questions cover the Cash Flow Statement and financial indicators, and analysis and interpretation of financial information and corporate governance.
By the end of this paper, learners should be able to prepare the Statement of Comprehensive Income, complete the Retained Income note, and complete the Equity and Liabilities section of the Statement of Financial Position.