# Accounting Grade 12 Paper 1 NSC November 2021 Memo (English) > Grade 12 Accounting Paper 1 memorandum from the NSC November Exam 2021 (English), 10 pages. Read online or download the free PDF. - Page: https://www.hlayiso.com/library/accounting-p1-nov-2021-mg-eng/0520d545-2257-4348-9cec-8e826990a17b - Updated: 2026-10-29 - Subject: Accounting - Grade: Grade 12 - Document type: Memorandum - Year: 2021 - Exam period: NSC November Exam - Paper: 1 - Curriculum: CAPS - Pages: 10 Breadcrumbs: [Home](https://www.hlayiso.com/) › [Library](https://www.hlayiso.com/library) › [Grade 12](https://www.hlayiso.com/library/grade-12) › [Accounting](https://www.hlayiso.com/library/grade-12/accounting) › [Accounting Grade 12 Paper 1 NSC November 2021 Memo (English)](https://www.hlayiso.com/library/accounting-p1-nov-2021-mg-eng/0520d545-2257-4348-9cec-8e826990a17b) ## About this document Accounting · Grade 12 · NSC November Exam · 2021. Memorandum. Read online or download the PDF. Read it free online on the page above; download the PDF from there. ## Document text Text extracted from the PDF. Layout, diagrams and tables may not survive extraction. ### Page 1 Downloaded from hlayiso.com NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING P1 NOVEMBER 2021 MARKING GUIDELINES MARKS: 150 MARKING PRINCIPLES: 1. Unless otherwise stated in the marking guidelines, penalties for foreign items are applied only if the candidate is not losing marks elsewhere in the question for that item (no penalty for misplaced item). No double penalty applied. 2. Penalties for placement or poor presentation (e.g. details) are applied only if the candidate is earning marks on the figures for that item. 3. Unless otherwise stated, give full marks for correct answer. If answer is incorrect, mark workings. 4. If a pre-adjustment figure is shown as a final figure, allocate the part-mark for the working for that figure (not the method mark for the answer). Note: if figures are stipulated in memo for components of workings, these do not carry the method mark for final answer as well. 5. Unless otherwise indicated, the positive or negative effect of any figure must be considered to award the mark. If no + or – sign or bracket is provided, assume that the figure is positive. 6. Where indicated, part-marks may be awarded to differentiate between differing qualities of answers from candidates. 7. If candidates provide more that the required number of responses, inspect all responses to give benefit to the candidate. Penalties may be applied for foreign entries if candidates earn full marks on a question (max -2 per Q). 8. This memorandum is not for public distribution; as certain items might imply incorrect treatment. The adjustments made are due to nuances in certain questions. 9. Where penalties are applied, the marks for that section of the question cannot be a final negative. 10. Where method marks are awarded for operation, marker must inspect reasonableness of answer. 11. Operation means 'check operation'. 'One part correct' means operation and one part correct. Note: check operation must be +, -, x, ÷, or per memo. 12. In calculations, do not award marks for workings if numerator & denominator are swapped – this also applies to ratios. 13. In awarding method marks, ensure that candidates do not get full marks for any item that is incorrect at least in part. Indicate with a . 14. Be aware of candidates who provide valid alternatives beyond the marking guideline. Note that one comment could contain different aspects. 15. Codes: f = foreign item; p = placement/presentation. These marking guidelines consist of 10 pages. Copyright reserved Please turn over ### Page 2 Downloaded from hlayiso.com Accounting/P1 2 DBE/November 2021 NSC – Marking Guidelines QUESTION 1 1.1 Calculate the value of the closing stock of formal suits that was omitted from the stock sheets on 30 June 2021. WORKINGS ANSWER 230 – 24 240 – 206 / if both unit totals add up to 240 (206 x R2 850) + (34 x R2 600) R675 500 one part correct     5 1.2 Calculate: Correct net profit after tax for the year ended 30 June 2021. Indicate '+' for increase and '–' for decrease. NO. WORKINGS AMOUNT Incorrect net profit before tax 4 918 950 (i) Audit fees + 123 600  No part marks (ii) Interest on loan 4 028 000  – 3 755 000  or – 273 000 # 4 028 000 one mark + (420 000 – 4 175 000) one mark (iii) Rent income (two marks; no part marks) (5 500 – 750) 4 750  x 2 Be aware of different methods – 9 500 # (77 000 x 4/14) one mark one mark one mark 22 000 – 3000 = 19 000 x2 ÷4 (iv) Income tax # (1 200 000 + 85 250) must add prov tax + amount owed – 1 285 250 Net profit after tax 3 474 800  one part correct 12 # operation and – sign or accept use of brackets total must include the NP figure 1.3 Retained Income Note on 30 June 2021 -1 P (if no details) -*brackets to earn full marks Balance at beginning Net profit after tax see 1.2 3 474 800 Shares repurchased ignore workings (78 000)* Dividends for the year ignore workings (1 170 000)* Balance at end 3 240 000 5 Copyright reserved Please turn over ### Page 3 Downloaded from hlayiso.com Accounting/P1 3 DBE/November 2021 NSC – Marking Guidelines JIMO LTD STATEMENT OF FINANCIAL POSITION ON 30 JUNE 2021 Figures are NOT required in shaded areas. ASSETS NON-CURRENT ASSETS Fixed assets Financial assets CURRENT ASSETS 8 700 000 Inventories 4 198 500+ 675 500  – 14 000 4 860 000 * see 1.1 Trade and other receivables (3 668 810 + 8 000 + 123 600 + 11 000 ) 3 811 410 * audit fees transfer Cash and cash equivalents balancing figure 28 590  accept negative amount TOTAL ASSETS see total E+L 12 16 762 000  EQUITY AND LIABILITIES SHAREHOLDERS' EQUITY 9 720 000 * (1 800 000  x 540/100  or R5,40) Must use NAV Ordinary share capital Must be the balancing figure< 6 480 000 < Retained income 4 3 240 000 NON-CURRENT LIABILITIES 3 842 000 Mortgage loan (3 755 000  + 273 000 ) – 186 000  3 842 000 * see 1.2 (ii) 5 CURRENT LIABILITIES (8 700 000 – Inventories) / 1,2 3 200 000  Or T&OR + CCE / 1,2 Trade and other payables 1 253 000  + 9 500  + 11 000 – 14 000 see Inventories 1 259 500 * rent income 1 400 x 10 Shareholders for dividends see 1.3 / given 1 170 000 # Current portion of loan see NCL 186 000 # SARS: Income tax 85 250 # Bank overdraft balancing figure 499 250  TOTAL EQUITY AND LIABILITIES 12 16 762 000 * # inspect if included with T&OP *one part correct 33 -1 foreign items max -2 presentation -1 max -2 TOTAL MARKS 55 Copyright reserved ### Page 4 Downloaded from hlayiso.com Accounting/P1 4 DBE/November 2021 NSC – Marking Guidelines QUESTION 2 2.1 Ordinary Share Capital Note on 28 February 2021 800 000 Ordinary shares at the beginning 6 400 000  100 000 New shares issued balancing figure 1 250 000  Must subtract repurchased (255 000) # (30 000)  Repurchased 30 000 shares at R8,50  If one part correct do not accept 36 000 870 000  Shares at the end of the year 7 395 000 # if answer of 255 000 is correct, award two marks if R8,50 is not shown 6 2.2 Calculate the following financial indicators on 28 February 2021: % operating expenses on sales WORKINGS ANSWER 20%  1 458 600 x 100* one part correct; calculated as a % 7 293 000 % sign not necessary Check numerator / denominator 2 Dividend per share WORKINGS ANSWER ( no part marks ) Assume cents if not specified. (162 000/900 000) 18 cents  + 22 cents  OR 0,18 + 0,22 40 cents & 18c 22c &Workings must be inspected two marks one mark in this case to earn the mark. 162 000 + 191 400 Only award method mark if correct method is used i.e. 900 000 870 000 See below ‘&’. different denominators for No marks for denominator if the same figure is used for interim & final dividends. interim DPS & final DPS (e.g. 900 000 & 870 000). If weighted average used: one mark 162 000 + 191 400 = 353 400 861 666,7 861 667 two marks ( one mark ) do not accept no method mark& (162 000 + 191 400) / 870 000 = 40,6 cents X (162 000 + 191 400) / 900 000 = 39,3 cents X (162 000 + 191 400) / 885 000 = 39,9 cents X 4 % return on average shareholders' equity WORKINGS ANSWER 985 500  x 100* 13,6% * ½ (6 450 000 + 8 038 100) one part correct 14 488 100 two marks calculated as a % 7 244 050 three marks Do not accept 0,136 or 0,14 Check numerator / denominator 5 * x 100 does not constitute ‘one part correct’ Copyright reserved Please turn over ### Page 5 Downloaded from hlayiso.com Accounting/P1 5 DBE/November 2021 NSC – Marking Guidelines 2.3 CASH FLOW STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2021 Figures are NOT required in shaded areas. For use of reversed signs, ensure that only one option is consistently used CASH FLOW FROM OPERATING ACTIVITIES 1 180 000 Cash generated from operations Interest paid Taxation paid (1 350 000 – 985 500) one mark 35 900 + 364 500 + 29 100 (429 500) * Be aware of signs reversed, use of brackets or ledger account formats Dividends paid 115 300 + 162 000 OR: 115 300 + 353 400 – 191 400 (277 300) * Be aware of signs reversed & use of brackets or ledger account formats 6 CASH FLOW FROM INVESTING ACTIVITIES (1 320 000) CASH FLOW FROM FINANCING ACTIVITIES 409 000* Shares issued see 2.1 1 250 000* Shares repurchased 36 000 one mark two m.marks 255 000  + (30 000 x 1,20) OR 30 000 x R9,70 (291 000)* see 2.1 (if R1,20 above ASP) Loan repaid 8 (550 000) * NET CHANGE IN CASH AND CASH EQUIVALENTS 269 000* from top (OA + IA + FA) (75 200)* CASH AND CASH EQUIVALENTS AT BEGINNING One mark if figure correct but no brackets CASH AND CASH EQUIVALENTS AT END 4 193 800* 18 *one part correct and must indicate correct operation & correct use of brackets; If no brackets, assume answer is an inflow of cash – award marks for workings only; TOTAL MARKS 35 Copyright reserved Please turn over ### Page 6 Downloaded from hlayiso.com Accounting/P1 6 DBE/November 2021 NSC – Marking Guidelines QUESTION 3 3.1 3.1.1 D Return on equity 3.1.2 A Liquidity Accept abbreviations if 3.1.3 B Gearing understandable 3.1.4 C Solvency 4 3.2 FLEXI LTD AND BROOM LTD 3.2.1 Profitability: Quote and explain TWO financial indicators to show which company is managing its expenses more efficiently, and is thereby more profitable. Quote figures and trends. part marks for incomplete / partial / unclear responses Any TWO financial indicators (explaining trend) from Broom Ltd with figures   If figures are shown for Flexi Ltd, award marks to names of indicators (max 2 marks) Quote figures and trends for any two indicators below % OExp on sales improved / decreased (from 17%) to 13,6% / by 20% / by 3,4% points (accept 3,4%) % OP on sales increased (from 20,5%) to 24,2% / by 18% / by 3,7% points (accept 3,7%) % NP on sales increased (from 16%) to 19,6% / by 22,5% / by 3,6% points (accept 3,6%) All indicators show an improvement in profits / expenses well managed. 4 3.2.2 Dividends, earnings & returns: Comment on the dividend pay-out policy of Flexi Ltd. Explain why this is an irresponsible change in policy. Provide TWO points. Quote figures and trends. Trend (with figures)  part marks for incomplete / partial / unclear responses (e.g. mentioning only DPS or only EPS) Responses for 2 marks for figures & trends:  The pay-out rate increased (from 59%) to 115% / by 94,9% / 56% points (accept 56%)  In 2021 they paid DPS of 92c compared EPS of 80c (i.e. 12c from retained income).  Although the EPS dropped from 138 cents to 80 cents (by 58 cents) / DPS was 10 cents more than last year (82c to 92c) and DPS now exceeds EPS (by 12c / 92c to 80c). Explanation / comment on decision  part marks for incomplete / partial / unclear responses; figures may be included in the explanation Expected comments – any one valid comment for two marks e.g.  Company is depleting Retained Income reserve (which can be more effectively used to rebuild profitability)  The company is trying to keep shareholders happy / trying to influence market price of shares by increasing dividends / equalizing dividends over several years. 4 Comment on the % return on shareholders' equity of EACH company. Quote figures and trends. Financial indicator with figures & trend   Flexi Ltd: ROSHE dropped from 12,2% to 7,6% / by 37,7% / 4,6 % points (accept 4,6%) Broom Ltd: ROSHE improved from 10,7% to 14,1% / by 31,8% / 3,4% points (accept 3,4%) Additional comment in each case   Figures may be included in the explanation; candidates are NOT required to mention a specific figure for the alternative rate; do not penalise for incorrect rates on investments (as these could vary from 4% to 14%)  Flexi Ltd: Refer to / compare alternative investments e.g. fixed deposit  Broom Ltd: Refer to / compare alternative investments e.g. fixed deposit Comment for 1 mark only (to cover both companies):  If candidates only mention increased / decreased / good / bad without alternative investments. 4 Copyright reserved Please turn over ### Page 7 Downloaded from hlayiso.com Accounting/P1 7 DBE/November 2021 NSC – Marking Guidelines A shareholder feels that the earnings per share (EPS) in Broom Ltd are better than that in Flexi Ltd. Explain why you agree with him. Quote figures or calculations. To get full marks, must compare EPS to Value of share (MP / NAV) for Flexi Ltd with figures  part marks for incomplete / partial / unclear responses To get full marks, must compare EPS to Value of share (MP / NAV) for Broom Ltd with figures  part marks for incomplete / partial / unclear responses Expected responses for four marks (two marks per company):  EPS to NAV is 7,4% in Flexi Ltd and 11,4% in Broom Ltd  EPS to MP for 2021 is 8,1% in Flexi Ltd (80/990) and 10,9% (72/660) in Broom Ltd  EPS on MP for 2020 is 7,1% in Flexi Ltd (80/1130) and 11,7% (72/615) in Broom Ltd  Flexi Ltd earned 80c on a share valued at 990c/1 081c while Broom Ltd earned 72c on a share valued at 660c/632c. OR: Other comparisons for each company for only one mark in each company:  Flexi Ltd EPS decreased from 138c to 80c whilst Broom increased from 65c to 72c  Flexi EPS is calculated on a smaller number of share (700 000) so it looks good; Broom’s EPS is calculated on a larger number of shares (1 500 000) 4 3.2.3 Shareholding of Bob Yates in both companies: Comment on the price paid for the shares repurchased by Flexi Ltd. Provide TWO points. Quote figures. Figures may be included in the explanation Any TWO valid points (2 marks each), at least one of which must be related to a financial indicator with figures:  Compare with figures R13,20 to MP of R9,90 or R11,30  Compare with figures R13,20 to NAV of R 10,81 or R11,28  Compare with figures R13,20 to any other value (e.g. average issue price)  Any other general comment without figures e.g. compromised the funds (liquidity) / Bob abused his status to enrich himself / MP also shows a decreasing trend / no demand for shares / could drop the price further (apply part marks for simple or incomplete or partial answers). 4 Calculate the number of shares that Bob purchased in Broom Ltd with the money he received from the share buyback at Flexi Ltd. WORKINGS ANSWER 150 000 x 13,20 1 980 000 300 000 shares R6,60  one part correct 2 Copyright reserved Please turn over ### Page 8 Downloaded from hlayiso.com Accounting/P1 8 DBE/November 2021 NSC – Marking Guidelines Explain the effect of the share repurchase on the % shareholding of Bob Yates in EACH company. Quote figures and trends. Explanation on % shareholding  Comparison in Flexi Ltd with figures  Explanation on % shareholding  Comparison in Broom Ltd with figures  Be aware of combined explanation with figures Flexi Ltd: Bob was the majority shareholder (51%) He now has only 40,5% of the shares (283 500 / 700 000) so he has lost majority status. Broom Ltd: Bob had 41,8% of the shares 460 000 + 300 000 He now has 50,7% of the shares (760 000 / 1 500 000) see 3.2.3 He is now the majority shareholder (or based on calculation in 3.2.3) OR: There was no share repurchase in Broom Ltd, so that would not affect his % shareholding which was 41,8% (two marks) OR: As he bought 300 000 shares in Broom Ltd, he is now the majority shareholder (50,7%). 4 3.2.4 Financing strategies and gearing: Explanation of decisions taken by the directors of Broom Ltd (two marks): Any ONE decision  Figure  Increased the share capital by R2 640 000 or (400 000 shares) OR Decreased the loan by R400 000 OR Net increase of R2 240 000 to total capital employed Explain ONE benefit (two marks): Explanation of benefit  Award part marks for partial / unclear / incomplete responses  All the money generated is spent on lasting items (fixed assets) which could generate further profits in future  Improved debt/equity ratio / reduced debt/equity (low risk) / improved creditworthiness in future  Improved % return on average capital employed. 4 Explain how the decisions taken by Flexi Ltd on its capital employed has affected the risk and gearing of the business. Quote TWO financial indicators (with figures and trends). TWO financial indicators (with figures)  Debt/equity  is now / increased (from 0,4 : 1) to 1,1 : 1 / by 0,7 : 1   ROTCE  is now / decreased (from 16,1%) to 10,2% / by 36,6% / by 5.9% points (accept 5,9%)  Explanation could be combined with figures or separate; both risk & gearing must be mentioned. Ignore reference to % ROSHE (i.e. do not penalise) Award part marks for partial / unclear / incomplete responses  High risk due to increase in loan  The business in experiencing negative gearing (ROTCE is lower than interest rate of 13%) 6 TOTAL MARKS 40 Copyright reserved Please turn over ### Page 9 Downloaded from hlayiso.com Accounting/P1 9 DBE/November 2021 NSC – Marking Guidelines QUESTION 4 4.1 Explain why a disclaimer audit report would be bad for a company's reputation. Provide TWO points. part marks for incomplete / partial / unclear answers Be aware of alternative valid responses e.g. Any TWO POINT 1  This indicates that there is something seriously wrong with the  financial statements.  The company and its results cannot be trusted / creates a bad impression or bad publicity  This can negatively affect the share price on the JSE.  Decreased demand for shares / losing potential investors / existing shareholders would want to sell their shares. POINT 2   Poor management and control of internal processes / incompetent management / question the integrity of directors.  Suppliers and customers will look elsewhere / creditors might not give credit  Banks / financial institutions might not approve loans 4 4.2 One of the most important decisions that shareholders have to make at the annual general meeting (AGM) is to appoint directors to serve on the board. Explain why the shareholders have been given this responsibility. Expected responses: part marks for incomplete / partial / unclear answers Be aware of alternative valid responses Any ONE valid response e.g.  Separation of ownership (shareholders) from control (directors)  The shareholders are the major investors but they cannot all work at the company.  They will have to appoint directors to run the company for them.  They have entrusted their investment to the directors. 2 If you were a shareholder, what factors or characteristics would you want to find out about the directors who would get your vote? Explain TWO points and give a reason for EACH. Reason could be included with Explanation / Some Explanations could be Reasons EXPLANATION Any TWO   REASONS Any TWO   Two separate and different points Any TWO different reasons (not necessarily Single word responses acceptable linked to the explanation)  Integrity / honesty / ethical / moral / person / set  The shareholders have good example / work ethic / responsible / no entrusted their investment to conflicts of interest / no accusations of nepotism the directors.  Clear crime record  They need expertise to run a  Good qualifications / member of professional body company well. / management skills / competence / good  Company would not fall behind judgement / communication skills on the global market.  Innovative / creative  Employees / shareholders  Experience in field / good track record / references would respect director / have / aware of policies. confidence in their ability.  Up to date with current trends / continues  Be a confident ambassador for professional development the company / deal with all stakeholders.  Collaborative / a good team player  Transparency & accountability (generally assessed after appointment, unless stated as part of track record) 6 Copyright reserved Please turn over ### Page 10 Downloaded from hlayiso.com Accounting/P1 10 DBE/November 2021 NSC – Marking Guidelines 4.3 A recent news report stated that a major company, Baxco Ltd, had been awarded a tender to supply equipment worth R20 m to a chain of private hospitals. The report accuses the CFO (chief financial officer) of that company of paying R2 m in cash to the CEO of the hospital group. As a shareholder, explain what you would say at the AGM. Provide TWO points. TWO valid and different points   part marks for incomplete / partial answers Be aware of alternative valid responses  This appears to be a clear case of corruption / under-handed agreement that did not follow the normal tender processes / kick-backs or bribes involved / unethical & illegal.  The CFO's actions must be investigated and appropriate disciplinary measures should follow (abusing his influence / authority) / institute criminal proceedings / legal process / sued (dismissed / fired /replaced: only 1 mark).  Investigate further to ensure that criminal activity has not filtered through to other parts of the company.  If the directors' integrity is compromised, this will affect the reaction of the public and the customers.  This would affect the share price and the profits (image of the business)  Concern over access to large cash amount / lack of internal controls. 4 4.4 Refer to the question paper for an extract from the website and Directors' Report of a major South African company. In your opinion, explain why this major company found it necessary to implement this policy. Provide TWO points. TWO valid and different points   part marks for incomplete / partial answers Be aware of alternative valid responses  Crime is a major problem in this country and people are scared to come forward to report crimes as they fear that their lives might be at risk; protection policy may encourage them to report cases.  The company states this in their policies to make people realise that they are serious about combatting crime.  The company would want to find out about wrong-doing before it is exposed in the press / impact negatively on the business.  This could also prevent or minimize wrong-doing as people are aware of this policy / being watched / reported / culprits must be reported.  This is part of good governance or according to King Code / improve reputation of company / compliance with policies / total quality management. 4 TOTAL MARKS 20 TOTAL: 150 Copyright reserved ## Related documents - [Accounting P1 Nov 2021 Answer Book Afr](https://www.hlayiso.com/library/accounting-p1-nov-2021-answer-book-afr/4f3e9f53-936c-4ad6-b22c-aebca5401cfe) — Accounting · Addendum · 2021 · Afr - [ACCOUNTING P1 GR12 MEMO SEPT 2021 Afrikaans](https://www.hlayiso.com/library/accounting-p1-gr12-memo-sept-2021-afrikaans/ba3a1ff7-09fc-402c-b9a3-c6afdd6d6bd6) — Accounting · Memo · 2021 · Afr - [Accounting P2 Nov 2021 Afr](https://www.hlayiso.com/library/accounting-p2-nov-2021-afr/6fec8993-f2b5-4aac-9ce1-277abdc5ca20) — Accounting · QP · 2021 · Afr - [ACCOUNTING P1 GR12 QP SEPT 2021 English D REV](https://www.hlayiso.com/library/accounting-p1-gr12-qp-sept-2021-english-d-rev/bd359bc3-aaa6-4466-a680-12cf6f56610f) — Accounting · QP · 2021 · Eng - [ACCOUNTING P1 GR12 ANSBK SEPT 2021 Sesotho D](https://www.hlayiso.com/library/accounting-p1-gr12-ansbk-sept-2021-sesotho-d/50ad1901-7a2b-4a4d-8341-73ad853187ca) — Accounting · QP · 2021 · Sesotho - [Accounting P1 Nov 2023 Answer Book Eng](https://www.hlayiso.com/library/accounting-p1-nov-2023-answer-book-eng/aaeb9a41-12fe-49c2-9ba7-37693926cbd5) — Accounting · Addendum · 2023 · Eng ## More from Grade 12 Accounting - [Accounting](https://www.hlayiso.com/library/accounting/8f42a6a4-9593-4d36-86b1-d890dd1bb1bf) — Guide - [ACCOUNTING P1 GR12 AB JCT ENG D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-ab-jct-eng-d-watermark/77ae8297-53f7-47b3-8e29-57bd38f30483) — Addendum · 2025 · Eng - [ACCOUNTING P1 GR12 QP JCT 2025 AFR D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-qp-jct-2025-afr-d-watermark/c6a5692b-3cb0-464b-bb82-67d6ce83bfdd) — QP · 2025 · Afr - [ACCOUNTING P1 GR12 QP JCT 2025 ENG D watermark](https://www.hlayiso.com/library/accounting-p1-gr12-qp-jct-2025-eng-d-watermark/84d92eb0-f5bd-4442-bb6d-c55cdc52e25d) — QP · 2025 · Eng - [ACCOUNTING P2 QP GR12 JCT 2025 ENG D watermark](https://www.hlayiso.com/library/accounting-p2-qp-gr12-jct-2025-eng-d-watermark/13425f71-aba6-4328-b084-d9b108884315) — QP · 2025 · Eng - [Accounting P1 (English) June 2025 Answer Book](https://www.hlayiso.com/library/accounting-p1-english-june-2025-answer-book/7e96e433-56f8-43a1-9a38-c68c465746dd) — Addendum · 2025 · Eng ## Collection - [Grade 12 past papers](https://www.hlayiso.com/grade-12/past-papers) --- Hlayiso: free CAPS and IEB past papers, memos, notes and study guides for South African learners. 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