poa

Question 1

bookeeping

Answer 1

is the process of recording business transactions and managing such records in the books

Question 2

accounting

Answer 2

preparing reports to aid the financial control and a management of a business

Question 3

diffrences between creditors and debtors

Answer 3

creditors are individuals or businesses that have lend funds
debtors are individuals or business that borrowed funds

Question 4

good management

Answer 4

communication, motivational, leadership, decision making and conflict management

Question 5

another name for debtors and creditors

Answer 5

borrower and lender

Question 6

sole trader

Answer 6

a person who is the exclusive owner of a business

Question 7

two financial statements

Answer 7

balance sheet and income statements

Question 8

capital, asset and liability

Answer 8

asset is known as debtors
capital is the value of the investment
liabilites are the debts owed by the firm

Question 8

users of accounting

Answer 8

external and internal users

Question 9

accounting cycle

Answer 9

source documents, journal, ledger, trial balnce and financial statements

Question 10

main aim of a business

Answer 10

to earn a profit

Question 10

accounting equation

Answer 10

c=a-l
a=c+l

Question 11

five fundamental ethiqual principles

Answer 11

autonomy, beneficence. non maleficence, justice and fidelity

Question 11

work place examples

Answer 11

ethical and unethical