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lorenzobellentan
Quiz by lorenzobellentan, updated more than 1 year ago
lorenzobellentan
Created by lorenzobellentan over 8 years ago
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Resource summary

Question 1

Question
Double entry [blank_start]bookkeeping[blank_end] means entering transactions into accounts twice.
Answer
  • bookkeeping
  • processing
  • statement

Question 2

Question
what is double-entry bookkeeping ?
Answer
  • It is a system so because every entry to an account requires a corresponding and opposite entry to a different account.
  • a receipt given by a shop to a customer who has returned goods, which can be offset against future purchases.
  • an entry recording a sum owed, listed on the left-hand side or column of an account.
  • a definite or clear expression of something in speech or writing.

Question 3

Question
double entry is denoting a system of bookkeeping in which each transaction is entered as a debit in one account and a credit in another
Answer
  • True
  • False

Question 4

Question
Single-entry bookkeeping:
Answer
  • gives you details about the delivery
  • shows your debits
  • tracks basic income and expenditures as these transactions occur

Question 5

Question
double entry bookkeeping demonstrates the effect of each transaction on the company's overall finances.
Answer
  • True
  • False
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