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2023 4N1 & 2

This class was created by Brainscape user Teo CS. Visit their profile to learn more about the creator.

By: Teo CS
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Decks in this class (15)

1. Forms of business ownership
State three difference forms of b...,
Different between sole proprietor...,
Different between sole proprietor...
7  cards
2. Users of financial information
Explain why owner is using the fi...,
Explain why managers are using th...,
Explain why employees are using t...
9  cards
3. Accounting Theory
Explain accounting entity busines...,
Explain going concern,
Explain accounting period and its...
12  cards
4. Double Entries
Contribution of asset by owner to...,
Drawings by ownereg owner draws o...,
Drawings by ownereg drawings of g...
22  cards
5. Source document
What is a source document,
Why business use source documents...,
When to use invoice
15  cards
6. Trade receivable
Definition of trade receivables,
Explain why business estimates th...,
Explain with the support of the a...
17  cards
7. Revenue, Income and expenses
Explain with an accounting theory...,
Name all double entries that you ...,
1 what the nature of prepaid expe...
20  cards
8. Inventory
What is inventory,
Why is inventory regard as curren...,
How to calculate the cost of inve...
17  cards
9. Cash
Suggest strategies on the interna...,
Suggest strategies on the interna...,
Suggest strategies on the interna...
21  cards
10. Non-current asset
Define capital expenditure,
Define revenue expenditure,
Distinguish 2 differences between...
19  cards
11. Trade payable and Long term borrowing
Explain the difference between ba...,
Explain the difference between ba...,
Explain the difference between ba...
7  cards
12. Equity
How to close drawings account end...,
What two transactions that must b...,
What cause the change in capital
14  cards
13. Financial statements analysis
What is profitability,
Which ratios measures profitability,
Formulae for gross profit margin ...
23  cards
14: General Theory
How it is important for accountan...,
Role of accounting,
State the function of the account...
29  cards
15. Source based question
0  cards

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2023 4N1 & 2

  • Class purpose General learning

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