give examples to real accounts 618966

Aug 30, 2021 | Uncategorized

  1. Define Double Entry System.
  2. Explain the principles of Double Entry System.
  3. What are the advantages of Double Entry System?
  4. What are the two different approaches of recording of business transactions?
  5. How are accounts classified?
  6. Write short notes on personal accounts.
  7. Give examples to real accounts.
  8. Explain nominal accounts with examples.
  9. What are the golden rules of accounting?
  10. What do you mean by an “entry”? What is an Opening Entry?
  11. How accounts are classified under accounting equation approach?
  12. What is a “journal”?
  13. What are special journals? Name any four of the Special Journals.
  14. Distinguish between a simple entry and a compound entry.
  15. What do you mean by “double compound entry”?
  16. Explain “Accounting Equation Approach.”