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Financial Accounting•SHS Financial Accounting

Double-entry and the ledger

Senior High 5 questions
AI-drafted from platform data — specialist review scheduledBy DigiTransact Mastermind editorial team
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What double-entry and the ledger means

The accounting equation, double-entry and ledger accounts for WASSCE.

Worked example

One question from this skill's own question bank, shown with its full working.

Question

The accounting equation states that Assets =

  • Capital + Liabilities
  • Capital - Liabilities
  • Liabilities - Capital
  • Expenses + Income
Answer: Capital + Liabilities

Working: Assets = Capital + Liabilities is the basic accounting equation.

Curriculum and exam alignment

Ghana GES SHS syllabusWASSCE

Curriculum notes are a general guide to where this work normally sits. Always check the syllabus your school or examination body is currently using.

Related skills

Other SHS Financial Accounting skills in Financial Accounting, at the same point in the course.

Other Financial Accounting topics

Partnership & Company AccountsSHS Cash Book & Bank ReconciliationWASSCE Past QuestionsUniversity Accounting

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Exams that assess double-entry and the ledger

Senior High work on this skill feeds directly into these exam papers. Each page lists the Financial Accounting topics that appear on it.

WASSCEWASSCE practice questionsFree WASSCE practice across the subjects at this stage, with worked answers.GESGES practice questionsFree GES practice across the subjects at this stage, with worked answers.ACCAACCA practice questionsListed as a related subject on the ACCA practice page.

How this page was produced

This text was drafted with AI assistance from the questions and topics already stored on the platform. A subject-specialist review is scheduled but has not yet been recorded, so we do not claim it here.

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Practise double-entry and the ledger

5 questions with a worked answer after every attempt, and a SmartScore that tracks how close you are to mastery.

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