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)
- Exam (elaborations) • 9 pages • 2023
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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...

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