WASSCE 2025 Financial Accounting Trails 1. (a) Distinguish between reserves and provisions (b) Explain the following giving one example in each case: (i) Depreciation; (ii) Depletion; (iii) Amortization. https://whatsapp.com/channel/0029VaEW2JPEawdvPSdOBG1m 2. (a) What is value added tax? (b) Distinguish between input vat and output vat. (c) State four features of Value Added Tax. 3. Explain the following terms as they are used in contract accounts: (a) Notional profit; (b) Retention money; (c) Progress payments; (d) Work certified; (e) Work-in-progress. https://whatsapp.com/channel/0029VaEW2JPEawdvPSdOBG1m WASSCE 2025 Financial Accounting Practicals Predictions : *Sole Proprietorship (With Adjustments) *Partnership Accounts *Suspense Account *Control Accounts *Bank Reconciliation Statement 0542743763_Dr. Whatsapp now