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...

OCR GCSE Business Paper 1 Exam With 100% Correct Questions And Answers Business plan - Is a simple plan which sets out details on the product or service being sold, where the finance is to come from to start the business, how the product is to be marketed and the market research carried out. Finance - Finance is needed to start a business - maybe a loan or grant. Success - For a business can take many forms, including making a profit, surviving and providing a good service. Resources...

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...

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...

FAC1502: FINANCIAL ACCOUNTING CONCEPTS; PROCEDURES AND CONCEPTS ACCOUNTING Planning; Recording; ,PLANNING DECISIONS Financial information is used to determine future actions. ,CONTROL Using financial information to evaluate , THE FUNCTION OF ACCOUNTING 1. The value added to the networth of a person/entity during a particular period.,PROFIT ENTITIES Sole traders;, NON-PROFIT ENTITES Clubs; Charitable Organisations; Churches; ......

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.

ACCOUNTING - Answer-Planning; Recording; Analyzing; Interpreting financial information. PLANNING DECISIONS - Answer-Financial information is used to determine future actions. Historical information provided by the accounting process serves as a basis for forecasting. CONTROL - Answer-Using financial information to evaluate the results of financial activities. THE FUNCTION OF ACCOUNTING - Answer-1. The value added to the networth of a person/entity during a particular period. 2. The acc...

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 ...

Small businesses must register for - ANSWER TFN, goods and service tax, pay-as-you- go tax and Fringe benefits tax tax file number - ANSWER - identifies individuals and businesses to the ATO. - Sole traders operate using their personal TFN. - Partnerships have their own TFN and the partners lodge tax returns using their personal TFN. - Private companies and incorporated not for profit companies have their own TFN

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...