NABTEX/WASSCE /BECE/NOVDEC

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Animal husbandry

6A

Animal husbandry

3b . In a non-profit organization, some common items of expenditure include: 1. Salaries and Wages: 2. Rent and Utilities:. 3. Program Expenses: 4. Fundraising Costs: Expenditure related to raising funds for the organization's operations. 5. Administrative Expenses:

3a. 1. *Charitable or social mission*: Non-profits aim to address social, economic, or environmental issues, improving lives and communities. 2. *Public benefit*: Non-profits serve the public interest, providing goods or services that benefit society as a whole. 3. *Tax exemption*: Non-profits are often exempt from taxes, allowing them to allocate more resources to their mission. 4. *Donations and funding*: Non-profits can receive donations, grants, and funding from individuals, organizations, and government agencies. 5. *Volunteer engagement*: Non-profits can engage volunteers, fostering community involvement and support. 6. *Advocacy and education*: Non-profits can raise awareness, advocate for policy changes, and educate the public on specific issues. 7. *Community building*: Non-profits can bring people together, creating a sense of community and social connection. 8. *Innovation and research*: Non-profits can innovate, research, and develop solutions to address specific challenges. 9. *Accountability and transparency*: Non-profits are accountable to their stakeholders, ensuring transparency in their operations and finances. 10. *Legacy and impact*: Non-profits can leave a lasting legacy, making a positive impact on society.

2c. 1. *Sales Day Book*: Records all credit sales made by the business. 2. *Purchases Day Book*: Records all credit purchases made by the business. 3. *Sales Returns Book*: Records all sales returns or goods returned by customers. 4. *Purchases Returns Book*: Records all purchases returns or goods returned to suppliers. 5. *Bills Receivable Book*: Records all bills received from customers (accounts receivable). 6. *Bills Payable Book*: Records all bills issued to suppliers (accounts payable).

2b I'd be happy to explain! (i) Incomplete Books of Accounts: 1. *Identify available records*: Gather all available financial records, such as bank statements, invoices, receipts, and payment vouchers. 2. *Prepare a statement of affairs*: Create a statement of affairs to estimate the financial position of the business. This includes listing assets, liabilities, and capital (owner's equity). 3. *Estimate missing figures*: Estimate missing figures based on available records, industry benchmarks, or previous years' data. 4. *Prepare a profit and loss account*: Using estimated figures, prepare a profit and loss account to calculate profit or loss. 5. *Make adjustments*: Make necessary adjustments for omitted or incorrect entries. *(ii) Complete Set of Books of Accounts:* When a complete set of books of accounts is maintained, computing profit or loss is straightforward: 1. *Prepare a trial balance*: Ensure the debits and credits are equal by preparing a trial balance. 2. *Prepare a profit and loss account*: Transfer relevant accounts from the trial balance to the profit and loss account. 3. *Calculate profit or loss*: Calculate profit or loss by subtracting total expenses from total revenues.

2a. The single entry method of bookkeeping is a simple and basic system for recording financial transactions. In this method, each transaction is recorded only once, either as an income or an expense, or as an asset or a liability.

1. (a) Provisions are a company's financial obligations or responsibilities that are likely to require an outflow of resources in the future. These obligations can include things like warranties, guarantees, or potential legal claims. Provisions are recorded as liabilities on a company's balance sheet and are meant to reflect the company's potential future expenses. (b) (i) Purchases journal: Records all purchases made by the company, including the date, description, quantity, and cost of each item purchased. (ii) Sales journal: Records all sales made by the company, including the date, description, quantity, and revenue generated from each sale. (iii) Purchases returns journal: Records all purchases that are returned or exchanged by customers, including the date, description, quantity, and cost of each item returned. (iv) Cash book: Records all cash transactions made by the company, including payments made and received. (v) Petty cash book: Records all small cash transactions made by the company, such as office supplies or minor repairs. (vi) Sales returns journal: Records all sales that are returned or exchanged by customers, including the date, description, quantity, and revenue lost from each return. 2. (a) The single entry method of bookkeeping involves recording only one side of a transaction, either the debit or credit side, in the general ledger. This method is simpler and less time-consuming than the double entry method, but it can lead to inaccuracies and a lack of balance in the accounts. (b) (i) Incomplete books of accounts: Profit or loss can be computed by subtracting the total expenses from the total revenue. This method assumes that all revenues and expenses have been recorded, but it does not account for any unrecorded transactions or adjustments. (ii) Complete set of books of accounts: Profit or loss can be computed by subtracting the total expenses from the total revenue, and then adjusting for any unrecorded transactions or adjustments. This method provides a more accurate picture of the company's financial performance. (c) Six books of accounts used to convert single entry to double entry system of bookkeeping include: 1. General ledger 2. Accounts receivable 3. Accounts payable 4. Inventory 5. Cash 6. Sales 3. (a) The purpose of setting up a not-for-profit making organization is to achieve a specific mission or purpose, such as providing charitable services, conducting research, or promoting education. Not-for-profit organizations are exempt from paying taxes and rely on donations and fundraising to support their operations. (b) Five items of expenditure of a not-for-profit making organization can include: 1. Salaries and wages 2. Rent and utilities 3. Marketing and advertising expenses 4. Travel and conference expenses 5. Office supplies and equipment (c) Four characteristics of a not-for-profit making organization can include: 1. Mission-driven: Not-for-profit organizations have a specific mission or purpose that they are working to achieve. 2. Tax-exempt: Not-for-profit organizations are exempt from paying federal and state income taxes. 3. Donor-dependent: Not-for-profit organizations rely on donations and fundraising to support their operations. 4. Volunteer-based: Many not-for-profit organizations rely on volunteers to help carry out their mission and achieve their goals.

Financial accounting

25. *A* pressure on children. 26. *C* - Inequitable in prioritizing projects. 27. *D* - plough back profit into the business. 28. *A*- struggle for political power. 29. *A* - Allowing only girls to study science at all levels. 30. *B* - poor leadership. 31. *C* - Encouraging political activities for the youth. 32. *B* lack of deposit mobilization. 33. *C* saving at home. 34. *B* self-confidence. 35. *C* lack of common currency. 36. *B* human resources. 37. *B* maintain national identity. 38. *B* qualitative increase in the manufacturing sector. 39. *A* adds to the collective effort towards nation-building. 40. *C* truancy. 41. *A* unrestricted executive powers.

1. C. increased output 2. C. harmony 3. B. adapts the environment to his need 4. B. low quality of life 5. A. husband father's compound 6. C. adolescence [8/26, 1:53 PM] Sir Phillimon: 7. C. harmony 8. B. adapts the environment to his need 9. B. low quality of life 10. A. husband father's compound 11. C. adolescence 12. B. reading job advertisements 13. D. encouraging entrepreneurship