Week 4 Flashcards
1
Q
Types of entries
A
Simple entry: Only one account on the debit side and one on the credit side.
Multiple entries: More than one account on either side or both sides.
2
Q
Group 1
A
Basic Financing (E)
3
Q
Group 2
A
Non-current assets (A)
4
Q
Group 3
A
Inventories (A)
5
Q
Group 4
A
Trade payables/ Receiveables (L&A)
6
Q
Group 5
A
Financial Accounts (L&A)
7
Q
Group 6
A
Expenses
8
Q
Group 7
A
Income/Revenues
9
Q
Whats the general ledger?
A
The General Ledger is the book with all accounts, their changes, sums and balances.
10
Q
A
11
Q
A
