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 Section A
Question 1 (Marks 3)
•    
•    perpetual inventory system  
•    credit terms
 
Question 2 (Marks 5)
•    Describe, in brief, the weaknesses in internal control in some instances.
 
Question 3 (Marks 2)
•    closing entries.
Section B: 3 Problems & Exercises
Q1.  prepare  journal entries using:
•    perpetual inventory
•    periodic inventory
Q2.
•    Calculate the total expenses for the month using accrual accounting.
Q3.
From the information provided prepare:
•    An Income Statement for the year ended 30 June 2012
•    A note for retained profits for the year ended 30 June 2012
•    A Balance Sheet as at 30 June 2012.       

The coverage would be up to Inventories ( week 7)



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