Define accounting Define business Define voudier What is cash transaction?

What is
transaction? Define journal folio Define journal Define real account with examples What
is simple entry? Define double entry system Define ledger What is meant by ledger folio?
Why is the ledger called king of all the books of accounting? What is trial balance? What is
meant by gross profit? What is meant by indirect expenses? Define credits What is meant
by term 2/10, n/30? What is a bank? Define Commercial Bank Define bank current account
What is bank reconciliation statement? Define bank Statement Define cheque What is
meant by cheque dishonour? What is omitted cheque? What is meant by blank cheque?
Define uncollected cheque Define bills of exchange Which are main parties involved in a bill
of exchange? What is meant by retirement of bills of exchange? How the bill of exchange is
dishonoured? Define discounting on bill of exchange Draw sketch of accounting cycle
Define owners equity What is meant by trading account? Define net loss What are direct
expenses? Define unearned income What adjusting entry will be passed for outstanding
wages? Define capital payment What is meant by capital receipt? What is capital profit?
Define capital expenditures State rule of debit and credit for capital Define capital profit
Give two examples of capital expenditures Define capital receipts What is meant by revenue
expenditures? What is meant by deferred revenue expenditures? What is meant by Errors of
Commission? Define error of omission Give two examples of errors of principle Explain
dual side error What is meant by error of posting? Define the term Drawing What is meant
by interest on drawings? What is compound entry? Define posting Pass the journal entry,
goods given as charity Rs5,000 Pass the journal entry purchase of building Rs80,000 Draw a
format of journal What is sales return journal? Who is recipient of bill? What is bill
receivable? Define sight bill What is meant by grace days for a bill? What do you mean by
endorsement of bill? What is insolvency? What is meant by contra entry? Define purchase
book Define cash book What is petty cash book? What are petty expenses? What is meant
by treble / three column cash book? Name the kinds of cash book What is meant by simple
cash book? Define final account Write down two names of final accounts Define balance
sheet Define liabilities What is un-earned income? What is trade discount? Define debtor
Define creditors Define pay-in-slip Define payee Define grace days Define intangible
assets Define contingent assets What is meant by depreciation? What is meant by suspense
account? Define book keeping Define proprietor Write down the basic equation of
accounting State the formula of accounting equation What is sale? What is promissory
note? What are parties in a promissory note? Define accrued expenses What is revenue
loss? Give two examples of revenue receipts Define revenue receipt Define marshalling
Define return outwards Define manufacturing business Define account Which books are
issued by the bank to its customer at the time of opening bank account? Define nominal
accounts Define profit and loss account Define assets What are fixed assets? What are
wasting assets? Define invoice What is credit note?