Accounts - Principles of Accounts Past QuestionsQuestion 91:In preparing accounting records, the owner of a business and the business are treated as A. The same person B. Having business relationship C. Separate legal entities D. Partners Question 92:Creditors use Accounting information for the purpose of A. Planning sales to a company B. Controlling a company's affairs C. Investing in a company D. Assessing a company's liquidity Question 93:The instrument that are generated when firms enter into business transactions with others are called A. Purchase document B. Journals C. Source documents D. Invoices Question 94:The document that is used to acknowledge the acceptance of the return of goods by the seller from the buyer is known as A. Credit note B. Debit note C. Invoice D. Voucher Question 95:The effect of the payment of liability is that it A. Increase both assets and liabilities B. Increase assets and decrease liabilities C. Decrease assets and increase liabilities D. Decrease both assets and liabilities |
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