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Bookkeeping

What is the process of bookkeeping?
Daybooks - source documents - trial balance
Source documents-daybooks-ledgers-trial balance
Trial balance- ledgers
Source documents - ledgers-daybooks- trial balance
What is the aim of bookkeeping?
To keep your customers happy
To produce invoices
To record and process all transaction of a business in a accurate and systematic way
Debtors are people you owe money to.
True
False
Creditors are people you owe money to.
True
False
Which of the following details would a bookkeeper record from the source documents?
Date of issue
Date Due
Customer Name
Customer Phone Number
Invoice Number
Creditors accounts can also be known as accounts....
Receivable
Payable
The capital of a company includes monies from investments, operating income, savings and loans
True
False
Which of the following is an example of a non-current asset?
Debtors
Equipment
Stock
Buildings
Which of the following is an example of a current liability?
Debtors
Creditors
Short term loan (<12 months)
Car lease
In your own words what does double entry bookkeeping mean?
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