300 Level Department of Accountancy exam questions and detailed answers. Download the answers in document format. Correct, detailed, and straightforward answers.
Questions:
(a) Define accounting policies
(b) State: For factors to be considered when selecting suitable account policy.
(c) Write a priori case on the following:
(i) Asset (x) Liability (iii) Income (iv) Expense (v) Equity
(ii) State seven virtues and roles of accounting
Principle of Conservation of Energy and Energy Concepts
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Melting vs Vaporization: Phase Changes and Heat Energy Calculations
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Thermal Conductivity and Heat Transfer Mechanisms
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Gas Laws and Problem Solving
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Fundamental vs Derived Quantities and Vector Calculations
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