Meridian Sec 2024 POA P1 QP

Name:Class: Sec _____Index No.: _______4E5N MERIDIAN SECONDARY SCHOOL PRELIMINARY EXAMINATION 2024PRINCIPLES OF ACCOUNTS Paper 1 7087/01 22 August 2024SECONDARY 4 EXPRESS / 5 NORMAL (ACADEMIC) 1 hourCandidates answer on the Question Paper.No Additional Materials are required. READ THESE INSTRUCTIONS FIRSTWrite your name, class and index number in the spaces at the top of this page.Write in dark blue or black pen.Do not use staples, paper clips, glue or correction fluid.The use of an approved calculator is allowed.Answer all questions.The businesses described in this question paper are entirely fictitious.The number of marks is given in the brackets [ ] at the end of each question or part question.The total number of marks for this paper is 40. For Examiner’s UseTotal Marks This document consists of 10 printed pages.[Turn over

2 MSS 4E/5NA Preliminary Examinations 2024Principles of Accounts (7087/01) 1(a) (i) State the two roles of accountants.……………………………………………………………………………………………………………………………………………………………………………………..………………………………………………………………………………..………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….. [2](ii) State and explain one accounting ethic accountants must uphold.……………………………………………………………………………………………………………………………………………………………………………………..………………………………………………………………………………..………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….. [2](b)State one stakeholder and explain why the stakeholder is interested in the accounting information of a business. ……………………………………………………………………………………………………………………………………………………………………………………..………………………………………………………………………………..………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….. [2]

3 MSS 4E/5NA Preliminary Examinations 2024Principles of Accounts (7087/01) (c)State the five stages in the accounting information system.………………………………………………………………………………………1.Source documents………………………………………………………………………………………………2.……..……………………………………………………………………………………….3.………………………………………………………………………………………………4. ………………………………………………………………………………………………5. Financial statements………………………………………………………………………………………….. [3](d)State and explain the accounting theory applied when recording drawings.………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..… [2] [Total: 11]

4 MSS 4E/5NA Preliminary Examinations 2024Principles of Accounts (7087/01) 2The following cash at bank account was extracted from DW Traders for the month of September 2023.Cash at bank accountDateParticularsCh