Accounting AQA A LEVEL ACCN1: Unit 1 Introduct

Chicago State University

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Accounting AQA A LEVEL - ACCN1: Unit 1 - Introduction to Financial Accounting ) (Solved Questions 100% VERIFIED QUESTIONS AND ANSWERS)

Accounting AQA A LEVEL - ACCN1: Unit 1 - Introduction to Financial Accounting ) (Solved Questions 100% VERIFIED QUESTIONS AND ANSWERS)
Exam (elaborations) • 9 pages • 2023

What are the reasons for keeping accounting records? ANS:- To quantify items such as sales, expenses and profit. - To present accounts in a meaningful way. - To measure success in the business - To provide information to owner of the business and to stakeholders. Source Documents ANS: What is an Invoice? ANS:A request for payment What is a Till Roll? ANS:Evidence of Cash Sales What is a Paying In Slip? ANS:Paying Cash into the Bank What is a Receipt? ANS:Paying a business expense with ca...