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Question 1
In NSC Accounting, a company's financial statements are prepared in accordance with which framework?
Correct Answer:
GAAP and IFRS
Question 2
Which GAAP concept requires that expenses be recorded in the same period as the income they helped to earn?
Correct Answer:
Matching concept
Question 3
In double-entry accounting, an increase in an asset account is recorded as a:
Correct Answer:
Debit entry
Question 4
The Memorandum of Incorporation (MOI) of a company sets out the:
Correct Answer:
Rights, responsibilities and rules governing the company and its directors and shareholders
Question 5
In a company, the persons who own shares and contribute the share capital are called the:
Correct Answer:
Shareholders
Question 1
Exam overview

About this Exam

Prepare with the NSC Accounting Practice Questions - National Senior Certificate (NSC) Accounting - Grade 12 (CAPS) Exam practice quiz. This question bank includes 100 questions covering company, cash, income, financial, and share. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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NSC Accounting Practice Questions - National Senior Certificate (NSC) Accounting - Grade 12 (CAPS) Exam

This practice set contains 100 questions from the matching question bank and focuses on company, cash, income, financial, and share. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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