—— concept accommodates all revenues and expenses to be received or charged in a given accounting period irrespective of what is actually received or paid. Posted on:
——- is when profit is understated while all anticipated losses are recognized and taken into the books. Posted on:
———– are books into which transactions are recorded on a daily basis from the source documents and from which postings are made periodically. Posted on:
—— are rebates granted to a debtor for making cash payments within a shorter time period than the normal credit period. Posted on:
An error which occurs where a wrong account in the same ledger is debited or credited is called ———- Posted on:
Errors which occur when an equal debit/credit figure recorded in the books is different from the actual amount in the source document are called ———- Posted on:
An error which is created by incorrect arrangement of the order of two (2) digits in a number is called ———- Posted on:
——– occurs when a digit or more is left or added to a number or the decimal point is placed incorrectly. Posted on:
