FA1 Section - Books ofprime entry
6 important questions on FA1 Section - Books ofprime entry
- What are the books of prime entry?
- What [2] names are they also known by?
What are the advantages of books of prime entry? [2]
- Figures can be checked
- Easier to enter large numbers of transactions and then process them.
How is recording information in the books of prime entry done in large organisations?
- Preparation checks and invoices
- Enter invoice details into the appropriate book of prime entry
- Check the totals and transferring into the ledger accounts.
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What is cross casting?
- Checking if the total of the columns add up
- Rearranging, net total + sales tax total should equal the total.
How do you enter sales invoices with settlement discounts in the sales day book?
How do the sales returns day book work?
The question on the page originate from the summary of the following study material:
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- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
