LESSON OBJECTIVE
Assessment Criteria M2 Analyse profit and loss accounts, balance sheet and cash flow statements appropriate for the given examples. Below are questions pertaining to lesson 4. Please ensure to answer each question correct. 1. True or False. A control Account keeps a total of a number of individual items. 2. State two reason for having a control account. 3. True or False: A suspense account is a temporary used when the Trial balance fails to balance. 4. Identify the three types of error that a suspense account is needed to correct
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LESSON OBJECTIVE
Assessment Criteria M2 Analyse profit and loss accounts, balance sheet and cash flow statements appropriate for the given examples. Below are questions pertaining to lesson 3. Please ensure to answer each question correctly. 1. True or False: The objective of a bank reconciliation is to reconcile the difference between the cash book balance and the bank statement balance. 2.What is the main reason why a cheque can be dishonured by the bank. 3. True or False : When using a standing order if the amount is ever to be changed, you have to inform the bank. 4.Explain what is deposit in transit. |
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