Random Facts

Question 1

What is accounting?
(Not the simple version)

Answer 1

Is an identifying, recording, classifying, summarizing and interpreting in terms of money, events, and business transaction

Question 2

Is an out of identifying, recording, classifying, summarizing and interpreting in terms of money, events, and business transaction

Answer 2

Accounting

Question 3

What is accounting?
(Simple version)

Answer 3

Language of business

Question 4

2 aspect of business

Answer 4

Regularity
Profitability

Question 5

Give the equation in business

Answer 5

Asset = liability + equity

Question 6

Who is the father of accountancy

Answer 6

Fra. Luca paisoli

Question 7

mandates that every business transaction be recorded in at least two accounts

Answer 7

Double entry accounting system

Question 8

Root word of debit and credit

Answer 8

Debere and credere

Question 9

When do you get profit?

Answer 9

The moment the service is done it means you have already have a profit

Question 10

When service is received regardless of when cash is paid

Answer 10

Expense

Question 11

Fraud

Answer 11

Intentional

Question 12

Mistake=error

Answer 12

Unintentional