Accounting Quiz or Test Your Accounting Knowledge On Incomplete Records

December 15th, 2010 Comments off
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Refresh or test your accounting knowledge on Incomplete Records:

QUESTIONS:1.0    In the absence of a sales account or sales day book, how can a figure of sales for the year be computed

2.0    In the absence of a purchase account or purchases day book, how can a figure of purchases for the year be computed

3.0    What is the accounting double entry to record the loss of stock by fire or burglary?

4.0    If a business proprietor pays his personal income into the business bank account, what is the accounting double entry to record the transaction?

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