Introduction to Basic Accountancy Terminologies
Interactive Video
•
Business
•
10th Grade - University
•
Practice Problem
•
Hard
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7 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the meaning of capital in the context of Peter's business?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
Can you explain the difference between assets and goods?
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
What are cash purchases and credit purchases?
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4.
OPEN ENDED QUESTION
3 mins • 1 pt
Who is considered a creditor and who is a debtor in Peter's transactions?
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
What are expenses and how do they differ from assets and goods?
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6.
OPEN ENDED QUESTION
3 mins • 1 pt
Can you describe what transactions are in accounting?
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7.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the purpose of maintaining accounts or accounts head?
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