Questionnaire

Please complete this questionnaire to the best of your ability. This is a requirement by the
Caribbean Examination’s Council (CXC) School Based Assessment (SBA) for the subject of
principles of accounts.

Name and Position in Mega Mart:

Date:

Please place a tick where appropriate.

1. What are the financial statements prepared in the business?
[ ] Trading Account
[ ] Profit & Loss/Income Statement
[ ] Balance Sheet (Statement of Financial Position)
[ ] Trading, Profit & Loss & Balance Sheet
[ ] Income Statement & Balance Sheet
[ ] Income & Expenditure & Statement of Financial Position
[ ] None
[ ] Other

2. What is the purpose of preparing the financial statement(s)?

[ ] To calculate the profit/loss made
[ ] To ascertain if the business should become bankrupt
[ ] To determine the payment of dividends
[ ] To track expenses
[ ] To determine the payment for partners share of profit/loss
[ ] To calculate the ability to increase wages/salaries/fringe benefits
[ ] To determine the amount to be saved
[ ] The ability to do further expansion
[ ] The ability to buy equipment/furniture/machinery
[ ] To help in decision making process
[ ] Other

3. Who would most likely use the financial statements prepared by your business?
[ ] Owners/Investors
[ ] Managers/Employees
[ ] suppliers/creditors
[ ] financial institutions
[ ] government
 [ ] debtors/customers
[ ] Others

Interview Questions

1. How does the financial statement prepared guide your thought or decisions made?

2. Why would you implement or continue the use of preparing financial statements?