The Grade 12 Accounting test on Income Statement, Notes, Ratio Analysis, and Audit is designed to help students revise their accounting subject. It focuses on principles such as ethical behavior and transparency in accounting.
The test provides a scenario from the books of Govender Ltd. and requires students to prepare an Income Statement, Trade and Other Receivables note, and calculate financial indicators.
Additionally, students are asked to comment on the board of directors’ decision to acquire an additional loan for company expansion, supported by financial indicators. The test includes a downloadable answer book and marking guidelines for students.
Task
You are provided with information from the books of Govender Ltd. The financial year ended on 30 June 2019.
- Prepare the Income Statement for the year ended 30 June 2019.
- Prepare the Trade and Other Receivables note.
- Calculate the following financial indicators on 30 June 2019:
- Percentage net profit on turnover
- Debt-equity ratio
4. The board of directors wants to acquire an additional loan to fund expansions within the company. Comment on why you think this is a good idea or not. Quote TWO financial indicators (with figures) to support your opinion
Download Full Accounting Grade 12 Class Test and memo
Below you can download the Accounting Grade 12 Test with Answer Book and Memo (Marking Guideline)