FINAL EXAM FOR BASIC BOOKKEEPING LEVEL 1 EXAM QUESTIONS WITH ACCURATE VERIFIED ANSWERS .

FINAL EXAM FOR BASIC BOOKKEEPING LEVEL 1 EXAM
QUESTIONS WITH ACCURATE VERIFIED ANSWERS .




Final Exam - correct Answers -The last examination in the bookkeeping course with a total of 100 marks
available.



Practical Exam - correct Answers -Part 1 of the Final Exam, where entries in Journals, Ledgers, and Trial
Balance are made.



Online Exam - correct Answers -Part 2 of the Final Exam, a computer-based test with 50 multiple choice
and/or True or False questions.



Journals - correct Answers -Books of original entry where financial transactions are first recorded.



Ledgers - correct Answers -Books that contain summarized and classified data from the Journals.



Trial Balance - correct Answers -A statement of all the closing balances of ledger accounts to ensure the
debits and credits are equal.



Accounts Receivable Ledger - correct Answers -A subsidiary ledger that records all sales made on credit.



Accounts Payable Ledger - correct Answers -A subsidiary ledger that records all purchases made on
credit.



PST - correct Answers -Provincial Sales Tax, a retail sales tax levied by the provinces.



GST - correct Answers -Goods and Services Tax, a value-added tax levied by the federal government.




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