(a) What is Accounting concept? (b) Explain the following accounting concepts: (i) Business Entity Concept (ii) Accrual Concept (iii) Going Concern Concept (iv) Consistency Concept(v) Periodicity Concept (vi) Historical Cost Concept

(a) Explain the Operation of Petty Cash Book using imprest system.
(b) Outline two disadvantages of the imprest system of bookkeeping in petty cash book.
(c) State five uses of petty cash voucher.

(a) Explain the following terms as used in account of not-for-profit making organization. (i)entrance fees (ii) subscription
(b) State five features of income and expenditure account.

(a) What is a Bank Reconciliation Statement? (b) Explain the following terms: (i) Bank Charges (ii) Standing order (iii) Credit Transfer (iv) Dishonoured Cheque (v) Unpresented cheque (vi) Uncredited cheque