BCA 201: Accounting for assets and liabilities past paper

Institution: Kibabii University

Course: Bacher of Commerce

Posted By: Omwa Martin

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Summary

BCA 201:Accounting for assets and liabilities past paper

QUESTION ONE (COMPULSORY)
a) The international Accounting Standards (IAS) recognizes the following as fundamental accounting principles:- Discuss. (i) Money Measurement
(ii) Periodicity
(iii) Historical cost
(iv) Going concern
(v) Accruals (10 marks)
b) State and explain any five of the broad principles of internal control (10 marks)
c) Three year bonds are issued at face value of shs.100,000 on Jan 1, 2007 and a stated interest rate of 8%. Calculate the issue price of the bonds assuming a market interest rate of 6% (5 marks)
d) Discuss five features of bonds (5 marks).......................................


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