Accounting Miscellaneous

    Accounting Miscellaneous
    Favourable balance of cash book implies
    Favourable balance of cash book implies balance at Bank. The credit balance as per the cash book indicates bank overdraft.
    Author: rikazzz Comment
    Accounting Miscellaneous
    Information about an item is _______ if its ommission or misstatement might influence the financial decision of the users taken on the basis of that information
    Materiality is a concept in financial accounting and reporting that firms may disregard trivial matters, but they must disclose everything that is important to the report audience. Items that are important enough to matter are material items.
    Author: rikazzz Comment
    Accounting Miscellaneous
    Which of the following will be debited if a business purchases goods on credit?
    Purchases will be debited if a business purchases goods on credit.
    Author: rikazzz Comment
    Accounting Miscellaneous
    The following is (are) the type(s) of Journal
    The following are the types of Journal: Purchase Journal, Sales Journal and Cash Journal.
    Author: rikazzz Comment