Ministry of Education

Sector -: Economic Infrastructure

Sub Sector: - Business and Finance
Occupation: Basic Account Works _L II
Assessor’s Package
The assessment covers the following units of competence:
Course Name: - Nine Unit of Competence
LSA ACF2 01 1221 Use Business Technology and equipment
LSA ACF2 02 1221 Process Customer Accounts and Transactions
LSA ACF2 03 1221 Develop Understanding of the Ethiopian Financial System and Markets
LSA ACF2 04 1221 Develop Understanding of Taxation
LSA ACF2 05 1221 Prepare and Use a Personal Budget and Savings Plan
LSA ACF2 06 1221 Develop Understanding of Debt and Consumer Credit
LSA ACF2 07 1221 Apply Business Communication in the work place
LSA ACF2 08 1221 Produce, Record & Maintain Business Documents
LSA ACF2 09 1221 Apply 5S Procedures

Project One: - Apply 5S Procedures

Part I Match items given under column A with the concept given under B.
A B
1, sort needed items from unneeded A, eliminating everything not required for the work being performed.
2, set workplace in order B, required materials must have an assigned location on the production floor.
3, shine work area C, tidiness and cleanliness.
4, standardize activities D, maintain the order and the housekeeping standards.
5, sustain 5s system E, .it is discipline with leadership

Project Two: - Process Customer Accounts and Transactions

Develop Understanding of the Ethiopian Financial System and Markets
Develop Understanding of Taxation
Prepare and Use a Personal Budget and Savings Plan
Develop Understanding of Debt and Consumer Credit
  Choose the correct answer from the given alternatives.
1. Business transaction are recorded in the first book of accounts called:
A, Journal C, Ledger
B, Payment journal D, Receipt journal
2. Properties owned by business
A, Asset C, Liability
B, Capital D, Revenue
3. Correct accounting equation is:
A. A=L+C
B. A=C-L
C. L=A+C
D. C=A+L
4. The correct flow of accounts with chart of account if:
A. Assets, liabilities, capital, expenses and revenues
B. Assets, liabilities, capital, revenues and expenses
C. Assets, capital, assets, revenues and expenses
D. Liabilities, capital, assets, revenues and expenses
5. A statement that reports the operating results of a company
a. Income statement c. Capital Statement
b. Balance sheet d. Cash flow statement
6. What the business owed is:
A. Asset C. Capital
B. Liability D. Expense
7. A debit may signify:
A. an increase in an asset account C. an increase in a liability account
B. a decrease in an asset account D. an increase in the owner’s equity
account
8. Which one of the following is a liability account?
A. Owner’s Equity
B. Account s Receivables
C. Accounts payable
D. All of the above
9. Properties owned by business
a. Asset c. Liability
b. Capital d. Revenue
10. Which of the following is used to compute the net income for a specific period?
a. Balance sheet
b. Statement of retained earnings
c. Income statement
d. Cash account

11. The right hand side of a T-account is termed as:

a. debit side
b. credit side
c. income side
 d. expense side
12. Which one of the following is not the three stages of implementing 5S are
A, Planning B, Implementation C, Sustaining D, all E, None

13. __________Goal is to remove all the dirt and the grime and to keep it that way on daily basis
A, Shine work area B, Set workplace in order
C, Standardize activities D, Sustain 5S system
14. _______is to make eliminate any unnecessary movements and actions by the worker to make
his process as efficient as possible.
A, Standardize activities B, Sustain 5S system
C, Shine work area D, Set workplace in order

Project Three
Task 3.1: Write at least four (4) fixed expenses
Task 3.2: Write at least four (4) variable expenses
Task 3.3: What are the ways to reduce expenses?

Project Four
Process Customer Accounts and Transaction
Assume you are an account officer of Alem Plc among the tasks and responsibilities listed on your job
description to handle issues related to financial sectors, to create business relationship with concerned
government and private companies and to process customers’ account and transaction of your
company.
Task 4.1: Demonstrate the possible document required from your companies to open current bank
account in CBE.
Task 4.2: Demonstrate the advantages of saving deposit account to your company if you maintain saving
account.

Project Five :- Develop Personal Budget and Saving Plan

AtoFantahun is a permanent employee of Ethio Construction Company earning monthly salary of 9,500
ETB. He has monthly personal expenditures as per the following and the remaining amount will be
deposited to his personal saving account.
• Clothing ………………………………………..….15%
• Food and Beverage………………………………...20%
• Medical………………………………………..……5%
• Rent……………………………………...………….20%
• Transportation………………………………….……2%
• Education Fees………………………..………….…10%

He plans to open a Barber Shop with capital of 80,520.00 ETB after one year. As per this
business plan, this capital is covered from annual personal saving account and the remaining
from Addis Saving and Credit Association at 8.5% annual interest rate for three years and
principal amount will be paid semiannually at equal installment.
Project Six: - Team Performance

Instruction: Under this project you are expected to perform the following tasks based on the
information provided:

Task 6.1. List at least four performance review tips of a team

Project Seven : Develop Business Practice

Task 7.1. List at least four conditions that business opportunities may be influenced.
Task 7.2. List at least five conditions business viability may include

Project Eight:- Develop Understanding of Taxation

1, During the VAT period, Construction material which is vat registered person purchase goods
worth of birr48,000, including VAT with a 15% VAT rate and sales goods at birr 46,000,
excluding VAT with a 15% VAT rate.
2, During the VAT period, workshop “Y” which is vat registered person purchase goods worth
of birr 63,000, including VAT with a 15% VAT rate and sales goods at birr 85,000, excluding
VAT with a 15% VAT rate.
Required: - 1, output VAT
2, input VAT
3, VAT payable