F01121B Foundation Certificate Diploma
In Accounting questions with answers.
asset ANS -Money a bussiness is owed
liability ANS -An amount owed by a business
Capital ANS -money for investment
income ANS -Earnings from sales or investment
Expenses ANS -The cost of assets consumed or services used in the process of generating revenues.
Drawings ANS -A record maintained to track money withdrawn from a business by its owners
Sales Ledger Control Account ANS -The general ledger account which controls the total amount of sales.
Purchases ledger control account ANS -The general ledger account which controls the total amount pf
purchases.
Books of prime entry(meaning) ANS -The record of all documentary transactions sent and received by
the company
In Accounting questions with answers.
asset ANS -Money a bussiness is owed
liability ANS -An amount owed by a business
Capital ANS -money for investment
income ANS -Earnings from sales or investment
Expenses ANS -The cost of assets consumed or services used in the process of generating revenues.
Drawings ANS -A record maintained to track money withdrawn from a business by its owners
Sales Ledger Control Account ANS -The general ledger account which controls the total amount of sales.
Purchases ledger control account ANS -The general ledger account which controls the total amount pf
purchases.
Books of prime entry(meaning) ANS -The record of all documentary transactions sent and received by
the company