Statement of Comprehensive Income

Why is content mapping in your lesson plan important?

• Indicate prior knowledge

• Indicate previous grade

• Indicate objectives

• Indicate consolidation

What calculations did learners struggle with in NSC 2023 exams in Paper 1?

• Depreciation

• Bad debt

• Inventory

• Depreciation

How long is an accounting period?

• 3 months

• 6 months

• 9 months

• 12 months

What grade did learners complete the financial statements of a partnership?

• Grade 9

• Grade 11

• Grade 10

• Grade 12

Identify the GAAP Principle?

"Providing for losses like Bad debt."

• Business entity

• Going concern

• Prudence

• Historical cost

What must be deducted from Sales in the SOCI?

• Debtors

• Bad debt

• Cost of sales

• Debtors' allowance

Identify one new company expense?

• 
• 
• 
• 

Give an example of an interest expense?

• Interest on fixed deposit

• Interest on loan

• Interest on savings

• Interest on overdue debtors

____________ are amounts still payable by the business for expenses in relation to the current financial year?

• Income received in advance

• Accrued income

• Accrued expenses

• Prepaid expenses

Consumables on hand are an _____________?

• asset

• expense

• income

• liability