Unit 01 - Introduction to Financial Accounting: Question Paper

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Centre Number Surname Other Names Candidate Signature Candidate Number For Examiner’s Use Examiner’s Initials Question Mark General Certificate of Education Advanced Subsidiary Examination June 2012 1 2 3 4 TOTAL Accounting Unit 1 Introduction to Financial Accounting 9.00 am to 10.30 am Tuesday 15 May 2012 ACCN1 For this paper you must have:  a calculator. Time allowed  1 hour 30 minutes Instructions  Use black ink or black ball-point pen.  Fill in the boxes at the top of this page.  Answer all questions.  You must answer the questions in the spaces provided. Do not write outside the box around each page or on blank pages.  All workings must be shown and clearly labelled; otherwise marks for method may be lost.  Do all rough work in this book. Cross through any work you do not want to be marked. Information The marks for questions are shown in brackets.  The maximum mark for this paper is 80. Four of these marks will be awarded for: – using good English – organising information clearly – using specialist vocabulary where appropriate.  (JUN12ACCN101) G/T79703 6/6/6/6 ACCN1 2 Answer all questions in the spaces provided. Do not write outside the box 1 Total for this question: 12 marks Helen plans to start a business on 1 August 2012. She will introduce £10 000 capital from her personal savings and borrow a further £10 000 from the bank. 1 (a) Explain three reasons why it is important for Helen to keep accurate accounting records. 1 ......................................................................................................................................... ............................................................................................................................................

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