Periodic inventory system is more accurate than Perpetual inventory system?

Creditor reconciliation:

If the error is on the creditor statement where will the error be rectified?

Bank Reconciliation:

If the error is in the general ledger where will the error be rectified?

Allowance for settlement discount is:

Accumulated depreciation means;

Diminishing-value method can also be identified as reducing balance method?

I cannot calculate depreciation using straight-line method without my cost price?

Residual vale will be deducted when using all depreciation methods?

In the PPE note disposals are accounted for at;

In the SoFP, PPE is shown at Carry Amount?

VAT input is a current liability?

Vat will be included in the debtors account when goods sold on credit?

Cost of Sales=

Assuming an entity apply the fist in first out method to determine the value of inventory, it does not matter if the periodic inventory system or perpetual inventory is adopted, the value for inventory at year end will have the same value?

Bank Recon:

A deposit made by an entity will appear on the bankstatement as a ______ balance

If the bank charges the business fees, the bank should make a credit entry in the bank statement.

A bank reconciliation statement is part of;

20% profit on sales;