Course Code acc203 Question The three column cash book is one of the subsidiary books of account used to record cash and bank transactions in addition to _______________ Answer Discounts received and discount allowed Question An invoice is used to prepare the ________ Answer Sales day book Question The documents that are exchanged between buyers and sellers which are binding on both parties are called ________ Answer Source documents in accounting Question The purpose of trade discount is to enable the customer achieve a _____when the goods are sold. Answer Profit margin Question ___________can be defined as an inducement given to customers to enable them buy in large quantity, obtain profit margin price when goods are sold and/or for prompt payment by debtors. Answer Discount Question Services and goods that have been consumed or enjoyed during the year but which payment has not been made either in full on in part at the end of that financial year is called ______ Answer Accruals Question _____ is a book of original entry used to record all goods sold and services rendered on credit to a third party in the order in which they occurred irrespective of the amount involved. Answer Sales journal Question The ________ state that profit should not be anticipated when recognising profit to be recorded in financial statement, but the profit should be based on actual profit earned or realised for the particular period Answer Convention of prudence Question ________are principles upon which preparation of accounting records are based, which are universally acceptable Answer Accounting concepts Question ______ is a veritable tool that provides relevant information for profit and not-for-profit organisations and other users of financial statements to make informed decisions. Answer Accounting Question The three column cash book is one of the subsidiary books of account used to record cash and bank transactions in addition to _______________ Answer Discounts received and discount allowed Question An invoice is used to prepare the ________ Answer Sales day book Question The documents that are exchanged between buyers and sellers which are binding on both parties are called ________ Answer Source documents in accounting Question The purpose of trade discount is to enable the customer achieve a _____when the goods are sold. Answer Profit margin Question ___________can be defined as an inducement given to customers to enable them buy in large quantity, obtain profit margin price when goods are sold and/or for prompt payment by debtors. Answer Discount Question Services and goods that have been consumed or enjoyed during the year but which payment has not been made either in full on in part at the end of that financial year is called ______ Answer Accruals Question _____ is a book of original entry used to record all goods sold and services rendered on credit to a third party in the order in which they occurred irrespective of the amount involved. Answer Sales journal Question The ________ state that profit should not be anticipated when recognising profit to be recorded in financial statement, but the profit should be based on actual profit earned or realised for the particular period Answer Convention of prudence Question ________are principles upon which preparation of accounting records are based, which are universally acceptable Answer Accounting concepts Question ______ is a veritable tool that provides relevant information for profit and not-for-profit organisations and other users of financial statements to make informed decisions. Answer Accounting Try Another Search