Accounting Paper 1 (English)

November 2024 โ€” Grade 12 / Matric โ€” Accounting

Past Paper 2024 Grade 12 English Accounting Hub โ†’
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๐ŸŽฏ 55 marks ๐Ÿ“„ 11 pages ๐Ÿ“ 25 items found ๐Ÿ“š 4 topics
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Questions โ€” A Preview of What to Expect in the Document

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This section provides a quick preview of questions from the document. It may not display every question or the complete wording of each one. For the full content, including diagrams, tables and other information, view the original PDF above.
Q1โ€” Section header โ€”
1.1Calculate
1.1.1 Depreciation on equipment on 29 February 2024 WORKINGS ANSWER
1.1.2Cost price of vehicles on 29 February 2024 WORKINGS ANSWER
1.1.3Depreciation on vehicles on 29 February 2024 WORKINGS NSWER Depreciation on
1.1.4Profit/Loss on vehicle traded in on 1 September 202 WORKINGS ANSWER NOTE: The relevant amounts, calculated above, must be transferred to
Q1โ€” Section header โ€”
1.2Statement of Comprehensive Income for th e year ended 29 February 202 Nov Sales Cost of sales
Q2โ€” Section header โ€”
2.1RETAINED INCOME NOTE FOR THE YEAR ENDED 29 FEBRUARY 2024 Balance at the beginning of the year 573 720 Ordinary share dividends
2.2CASH FLOW STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2024 CASH FLOW FROM OPERATING ACTIVITIES Cash generated from operations Interest paid CASH FLOW FROM INVESTING ACTIVITIES CASH FLOW FROM FINANCING ACTIVITIES
2.3Calculate the following financial indicators for the year ended 29 February 2024 perating expense
Q3โ€” Section header โ€”
3.1Profitability: Quote TWO financial indicators with figures and trends to indicate that the company is managing its expenses well.
3.2Dividends pay out policy: Comment on the dividend pay out policy of the company. Explain why this is a responsible change in policy. Provide ONE point.
3.3Earnings and returns: Explain wh ether the shareholders should be satisfied or not with the earnings per share and returns on average shareholders equity of the company. Quote TWO financial indicators
3.4Financing strategies and gearing: Refer to nformation C. The directors decided to buy new fixed assets in 2024 to enhance the company. Identify the TWO main sources (over R1m\that were used to finance this purchase. Provide figures.
3.5Grant Waters' % shareholding , rights issue and shares repurchased Calculate: Refer to Information B. The n
3.6ole of the CEO: Explain TWO characteristics that shareholders would expect of a good CEO. Apart from the factors and financial indicators covered in the previous questions, identify and explain TWO other points indicating that the
Q4โ€” Section header โ€”
4.1Explain the role of an independent external auditor. Provide ONE point.
4.2Choose the correct word from those in brackets. Write the answer and explain your choice. Valiant Ltd received a/an (qualified/unqualified/disclaimer of opinion\ audit report. AUDIT REPORT EXPLANATION
4.3What kind of audit evidence does the independent external auditor examine to verify the fixed assets of a company Provide TWO points. Accounting/P 11 DBE/
4.4What are the implications of this audit report for the following: Directors Shareholders State ONE point in each case. IMPLICATIONS Directors
4.5State THREE possible consequences for the independent external auditor if he was influenced by the directors of the company to deliberately provide the shareholders with an incorrect audit report. TOTAL MARKS

Topics Identified

4
DepreciationBudgetingFinancial StatementsCompanies

Mark Allocation

Total150 marks

Paper information

SubjectAccounting
Year2024
SessionNovember
TypePast Paper
PaperPaper 1
LanguageEnglish
Pages11
Downloads11

Examination context

Decade2020s
Years ago2y
SeasonSpring (SH)
Start dayTuesday
Exam periodNovember 2024
Days since exam717

About Accounting examination preparation

Grade 12 Accounting tests bookkeeping, financial statements, and interpretation of corporate data. Paper 1 covers VAT and manufacturing accounts, while Paper 2 tests partnerships and corporations.

Every available Grade 12 Accounting past paper and memorandum is collected in the Accounting hub at accounting.freemode.co.za โ€” browse all years, sessions and languages in one place.

How to use this resource for revision

A past examination paper is most useful when it is treated as an active revision exercise. Try the questions yourself before checking the corresponding memorandum. Where you make an error, identify the reason โ€” was it a knowledge gap, a calculation mistake, an interpretation issue, or an examination technique problem?

For stronger examination practice, complete the paper without unnecessary interruptions and keep track of the questions that take the most time. Afterwards, review the memorandum and separate knowledge gaps from mistakes caused by interpretation, calculation, structure, or examination technique.

accurate accounting calculations
interpreting financial information
applying accounting principles
presenting structured answers
checking numerical accuracy

A practical revision approach

Accounting rewards presentation discipline โ€” the memorandum allocates method marks on a per-line basis. Keep working papers neat, label every calculation, and never skip a step.

Grade 12 subject hubs

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Corresponding marking memorandum

Marking memorandum available

Use the corresponding memorandum after completing the paper to review your answers and identify areas that require further revision. The memorandum shows the marking approach used by DBE examiners, including method-mark allocations.

Accounting Memo 1 (English) โ†’

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File size197.8 KB
Pages11
Archived on11 October 2026
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