Q1. “Accounting takes in the process of Identifying, Recording and Communicating”. How would you like to explain the statement? Give support to your answer
with examples on Identifying, Recording and Communicating. (3 activity Marks)
Q2. Explain the concept of double entry system and its relationship with accounting equation. (2 Marks)
Q3. Imagine yourself to be a Merchandiser and bring out three important merchandise transaction on purchases and sales in a proper journal format. (6 Marks)