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general journal.
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How can fraud take place in a business when sales transactions are being processed and recorded?
How can fraud take place in a business when sales transactions are being processed and recorded
What is meant by business intity concept?
Business intity concept is all transactions that affect the firm. The business intitly does not affect the ownerÕs private transactions and will be recorded.
A record in which transactions are recorded first is what?
Journal
Why should you keep private and business transactions separate?
In business books of accounts only business transactions are recorded as per Entity concept of accounting business owners and business accounts are two separate entities and two separate entities cannot show transactions in same books of accounts.
Can business to business transactions be made online?
Business to business transactions can be made online. Contacting the business you are looking to interact with and ensuring the internet safety would be your first step.
What are the primary books of accounts?
Primary books of accounts are those books in which business transactions are recorded at first, i.e., journals - special journals as well as general journal.
What is role of bookkeeper?
The bookkeeper central role is to record the financial transactions occurs with in the business. Transactions include purchases, sales, receipts and payments by an individual or organization. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies.
What is the money measurement assumption in acccounting?
In accounting, only those business transactions and events which are of financial nature are recorded
What are the benefits of an accounting policy manual?
Accounting policy manual makes sure that all business transactions are recorded in same way and all related transactions are provided in same code of account and accuracy of transactions is also assured.
Transactions recorded in the cash receipts journal?
Transactions recorded in the cash receipts journal are, all receipts of cash.
What transaction are recorded in a sales day book?
In Sales day book all transactions related only to sales are recorded in it and no other transactions is recorded.
When were real estate transactions first officially recorded?
The common practice of recording real estate transactions with an official recorder or registrar began in colonial Massachusetts
