Sole traders Guías de estudio, Notas de estudios & Resúmenes

Question 2 Not yet answered Marked out of 1.00 Flag question Question text The transactions are summarised in the ledgers and contain the information such as names of parties to the transaction, description of transactions, source document numbers etc. Select one: True False Question 3 Not yet answered Marked out of 2.00 Flag question Question text Use the following information to answer the question below: SA Traders is a business that sells electronic equipment. The entity i...

ACCOUNTING - Correct Answers Planning; Recording; Analyzing; Interpreting financial information. PLANNING DECISIONS - Correct Answers Financial information is used to determine future actions. Historical information provided by the accounting process serves as a basis for forecasting. CONTROL - Correct Answers Using financial information to evaluate the results of financial activities. THE FUNCTION OF ACCOUNTING - Correct Answers 1. The value added to the networth of a person/entity dur...

100% SOLUTIONS FOR FAC1601 QUESTIONS ANSWERED Which of the following statements is correct: 1. A liability is a future obligation of a reporting entity to transfer an economic resource as a result of a past event. 2. The accounting equation is: Liabilities + Assets = equity 3. The value of a reporting entity lies in the net assets (assets minus liabilities) under its control. 4. Equity is the residual interest in the assets of the entity after deducting all the expenses.Question text The d...

this document contains not only all latest topical past papers questions for accounting sole trader with adjustments combined in one document but also contains notes of this topic in the beginning.

Sole Trader correct answer: this is the simplest form of business entity where a business is owned and operated by one individual. With this form of entity there is no distinction in law between and owner and the business. Partnership correct answer: this is similar to a sole trader in that the owners of the partnership share all the profits and have unlimited liability for the losses and debts of the business. The key distinction is that there are at least two owners. Limited Liability ...

The major purpose of IASB is to ensure consistency in - Correct Answer corporate reporting The leadership style that least acknowledges contribution that subordinates have to make is - Correct Answer autocratic a sole traders net profit for period we can calculate as - Correct Answer closing net assets+drawings-capital introduced- opening net assets Imprest (zaliczkowy) system of operating petty cash - Correct Answer The exact amount of expanditure is reimbursed at intervals to maintain...

Business Organisations - Sole Traders - Partnerships - Private Limited Companies - Public Companies - Community Interest Company Legal Personality - Veil of Protection - Piercing Veil of Protection Incorporation - Promoter - Pre-Incorporation Contract - Reqs - Articles of Association - Entrenchment - Secretaries Directors - Powers - Duties - Breach - Appointment - Removal - Loans - Declaration of Interest - Substantial Property Transaction - Remuneration - Disqual...

Sole Trader correct answer: this is the simplest form of business entity where a business is owned and operated by one individual. With this form of entity there is no distinction in law between and owner and the business. Partnership correct answer: this is similar to a sole trader in that the owners of the partnership share all the profits and have unlimited liability for the losses and debts of the business. The key distinction is that there are at least two owners. Limited Liability ...

The major purpuse of IASB is to ensure consistency in correct answers corporatel reporting The leadership style that least acknowledges contribution that subordinates have to make is correct answers autocratic a sole traders net profit for period we can calculate as correct answers closing net assets+drawings-capital introduced- opening net assets Imprest (zaliczkowy) system of operating petty cash correct answers The exact amount of expanditure is reimbursed at intervals to maintain a ...

AQA A level business 3.1 Questions and Answers 100% Pass What are the aims of business? x5 Survival Cash flow (liqudity) profit (where the total revenue>total costs) Growth Social and ethical objectives Define what a mission statement is? A qualitative statement of an organisation's overall mission or purpose Reasons for mission statement x2 To provide a clear goal , purpose and sense fo direction To communicate to stalkholders What are the goals available for a business to achieve? x4 Mi...