Free Practice Questions for Senegal Baccalauréat Série STEG

Explanation: The prudence principle under revised SYSCOHADA requires reasonable valuation of assets and liabilities to avoid shifting present risks onto future financial years. Consequently, probable future expenses or losses must be recognized through impairment or provisions as soon as they become foreseeable, whereas potential gains cannot be recognized until realized.

Explanation: Class 1 in the SYSCOHADA chart of accounts is specifically dedicated to durable capital resources (Ressources durables), which comprises equity capital (capitaux propres), assimilated equity, grants, financial debts (emprunts et dettes financières), and durable provisions.

Explanation: The General Ledger (Grand Livre) organizes financial records systematically by individual account (compte par compte). For each account, it shows previous balances, total debit and credit movements during the period, and the resulting closing debit or credit balance.

Explanation: Under the straight-line depreciation method (amortissement constant ou linéaire), the annual depreciation rate is calculated as 100% / n = 100% / 5 = 20% (or 1/5). The annual depreciation annuity equals the depreciable base multiplied by the rate: 5,000,000 FCFA * 20% = 1,000,000 FCFA per year.

Explanation: When an enterprise invoices VAT to its customers on taxable sales, it acts as a tax collection intermediary for the tax administration (Direction Générale des Impôts et des Domaines - DGID). The invoiced VAT constitutes a short-term liability owed to the state and is credited to account 4431 (TVA facturée sur ventes/prestations).

Explanation: From the top of the functional balance sheet, Net Working Capital (FRNG) is defined as the surplus of long-term financial resources over long-term capital applications: FRNG = Ressources durables (Class 1) - Emplois stables / Actif immobilisé (Class 2). A positive FRNG indicates that permanent resources finance all fixed assets with a safety cushion remaining for working capital.

Explanation: A direct cost can be attributed immediately and unambiguously to a single cost object (a specific product, job, or service) without intermediate pooling or allocation keys (e.g., raw materials used directly in manufacturing product A). In contrast, an indirect cost concerns multiple cost objects and requires an intermediate cost center and distribution key (e.g., factory lighting or plant administration).

Explanation: The breakeven point in turnover (Seuil de Rentabilité - SR) represents the sales revenue where operating result equals zero (Total Contribution Margin = Fixed Costs). It is computed as: SR = Fixed Costs / Contribution Margin Ratio = 12,000,000 FCFA / 0.30 = 40,000,000 FCFA.

Explanation: Under the revised SYSCOHADA standards (aligned with international accounting practice), the LIFO (Last In, First Out / DEPS) method is prohibited because it undervalues closing inventory during periods of inflation by leaving older, lower costs on the balance sheet. Only FIFO (PEPS) and Weighted Average Cost (CUMP) methods are permitted.

Explanation: The total premium of 1,200,000 FCFA covers 12 months (100,000 FCFA/month). For year N, only 1 month (December) pertains to the current fiscal year. The remaining 11 months (1,100,000 FCFA) relate to year N+1 and must be deferred. The year-end adjusting entry debits asset account 476 (Charges constatées d'avance) and credits expense account 625 (Primes d'assurance) by 1,100,000 FCFA to neutralize the excess expense in year N.