ACC203-Introduction to Financial Accounting I
NOUN TMA QUESTIONS & ANSWERS
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Course Code & Title: ACC203-Introduction to Financial Accounting I
Description: NOUN TMA Q&A
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The three branches of accounting are, auditing, management accounting and Question 1Answer Financial A trial balance is a proof of accuracy of Question 2Answer double entry in the ledgers In preparing trading profit and loss account, insurance payment is a charge to.. Question 3Answer profit and loss account One of the users of accounting information that will want to know about profit earned, dividends to be paid and net worth of the business is called Question 4Answer Shareholders Trading account is prepared in order to determine Question 5Answer Gross profit The concept which states that the value of assets should be stated or recorded at cost price or the original cost is called Question 6Answer Cost concept Prepayment is a charge to what class of assets Question 7Answer current assets The goods bought and later returned by the buyer to the seller is called Question 8Answer Return outward Who is responsible for reporting on the true and fair view of an organizations financial statement Question 9Answer Auditor Another name for sales journal is Question 10Answer Sales day book
September 3, 2025 8:19 PM
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