WACE Year 11 Accounting and FinanceOriginal synoptic practice exam 2 (Units 1 and 2)
| Reading time | See the stated paper time |
| Writing time | 150 minutes writing + 10 minutes reading; original practice format written for this hub, not an official SCSA examination |
| Total marks | 100 |
| Questions | 13 |
| Structure | Section A — 7 Q, 35 marks · Section B — 6 Q, 65 marks |
This paper covers
- Sources of finance for small business
- Business ownership and types of business undertakings
- Accounting concepts, conventions and GST principles
- Double entry recording, trial balance and simple financial statements
- Internal control
- Legislation, bankruptcy and responsible small business
- Electronic processing and payment systems
- Accrual accounting, the Conceptual Framework and balance day adjustments
- Depreciation and inventory costing concepts
- Recording adjustments, depreciation and accrual-based financial statements
- Ratio preparation and interpretation
- Professional associations and codes of conduct
Use the materials specified by your teacher for this practice task. Follow the instructions on the paper.
This is an ATARMAxxing practice paper. It is not an official examination and is not affiliated with, endorsed by, or produced by the VCAA, NESA or the QCAA.
Common questions
What does WACE Year 11 Accounting and Finance Original synoptic practice exam 2 (Units 1 and 2) cover?
Sources of finance for small business; Business ownership and types of business undertakings; Accounting concepts, conventions and GST principles; Double entry recording, trial balance and simple financial statements; Internal control; Legislation, bankruptcy and responsible small business; Electronic processing and payment systems; Accrual accounting, the Conceptual Framework and balance day adjustments; Depreciation and inventory costing concepts; Recording adjustments, depreciation and accrual-based financial statements; Ratio preparation and interpretation; Professional associations and codes of conduct.
How long is WACE Year 11 Accounting and Finance Original synoptic practice exam 2 (Units 1 and 2), and how is it marked?
150 minutes writing + 10 minutes reading; original practice format written for this hub, not an official SCSA examination; 100 marks; 13 questions. See the marking guide for worked solutions and scoring criteria.
Is Original synoptic practice exam 2 (Units 1 and 2) an official SCSA paper?
No. It is an original Year 11 practice resource, not an official board examination. Your school determines its assessment program.
2 original practice exams with worked solutions, 12 revision notes, 120 practice questions and 144 flashcards.
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