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NCERT-RECORDING OF TRANSACTIONS-I-Question for practise
- State the three fundamental steps in the accounting process.
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- Why is the evidence provided by source documents important to accounti...
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- Should a transaction be first recorded in a journal or ledger? Why?
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- Are debits or credits listed first in journal entries? Are debits or c...
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- Why are some accounting systems called double accounting systems?
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- Give a specimen of an account.
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- Why are the rules of debit and credit same for both liability and capi...
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- What is the purpose of posting J.F numbers that are entered in the jou...
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- What entry (debit or credit) would you make to: (a) increase revenue ...
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- If a transaction has the effect of decreasing an asset, is the decreas...
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