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SingaporeAccountingQuick questions
Recording and Processing Transactions
Quick questions on Books of prime entry and ledgers explained: H2 Principles of Accounting
5short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What are source documents?Show answer
Every transaction starts with a source document that provides the evidence and the figures:
What is the books of prime entry?Show answer
Transactions are first listed in the appropriate book of prime entry (also called a day book or journal):
What is q1?Show answer
Name the book of prime entry for (a) a credit purchase and (b) a cheque payment. [2 marks]
What is q2?Show answer
Explain the difference between the sales ledger and the sales account. [3 marks]
What is q3?Show answer
State the source document used to record goods returned by a customer and the journal it enters. [2 marks]
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