SSLC Accounting Practice Questions - Samoa Secondary Leaving Certificate - Accounting Exam - SSLC Accounting Practice Questions - Samoa Secondary Leaving Certificate

Question 1

Which accounting concept assumes that a Vaitele hardware shop will keep trading for the foreseeable future and will not be forced to close or sell off its assets?

Historical cost concept Money measurement concept Materiality concept Going concern concept

Correct Answer:

Going concern concept

Question 2

Sina's catering business completed a SAT 1,800 wedding job in November but will not collect the cash until January. Under the accrual basis, when is the SAT 1,800 recorded as revenue?

In January when the cash is received Split equally between November and January In November when the work is earned Only when the owner withdraws the money

Correct Answer:

In November when the work is earned

Question 3

A Salelologa store bought a freezer for SAT 4,500 three years ago. Similar freezers now sell for SAT 6,200. Under the historical cost concept, at what amount is the freezer first recorded?

SAT 6,200, the current market price SAT 5,350, the average of cost and market SAT 0, because it is already three years old SAT 4,500, the original purchase price

Correct Answer:

SAT 4,500, the original purchase price

Question 4

The matching concept requires that the cost of taro sold from a Fugalei stall is reported:

In the same period as the sales revenue those taro helped generate Only in the period when the grower is paid As a deduction from owner's capital, never as an expense In the following year so profit is not understated

Correct Answer:

In the same period as the sales revenue those taro helped generate

Question 5

Conservatism (prudence) is applied when a shop:

Records a hoped-for SAT 5,000 tourism boom as income before any bookings exist Ignores a likely SAT 400 stock loss because the amount is uncertain Recognizes a likely SAT 400 inventory write-down now, but does not record unrealized holding gains Stops keeping any records of liabilities so the business looks stronger

Correct Answer:

Recognizes a likely SAT 400 inventory write-down now, but does not record unrealized holding gains

Exam overview

About this Exam

Prepare with the SSLC Accounting Practice Questions - Samoa Secondary Leaving Certificate - Accounting Exam practice quiz. This question bank includes 100 questions covering sales, shop, cost, financial, and assets. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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SSLC Accounting Practice Questions - Samoa Secondary Leaving Certificate - Accounting Exam

This practice set contains 100 questions from the matching question bank and focuses on sales, shop, cost, financial, and assets. 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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SSLC Accounting Practice Questions - Samoa Secondary Leaving Certificate - Accounting Exam

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