Books of original entry are used for
Recording business transactions
The adjustment of accounts
Reminding the book keeping to post transactions in the ledger
Informing the bookkeeper about the state of affairs
Correct answer is A
No explanation has been provided for this answer.
The effect of the payment of liability is that it
Increase both assets and liabilities
Increase assets and decrease liabilities
Decrease assets and increase liabilities
Decrease both assets and liabilities
Correct answer is D
No explanation has been provided for this answer.
Credit note
Debit note
Invoice
Voucher
Correct answer is A
No explanation has been provided for this answer.
The instrument that are generated when firms enter into business transactions with others are called
Purchase document
Journals
Source documents
Invoices
Correct answer is C
No explanation has been provided for this answer.
Creditors use Accounting information for the purpose of
Planning sales to a company
Controlling a company's affairs
Investing in a company
Assessing a company's liquidity
Correct answer is D
No explanation has been provided for this answer.