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Economic Entity Assumption

Going Concern Assumption

Monetary Unit

Periodicity Assumption

• What is the difference between personal account real account and nominal account?

• What are trade bills?

• What is double entry book keeping?

• What is dividend warrants?

• What is Letter of Credit?

• What are the four classifications of Bad and Doubtful Debts as per the context of the Bank?

• What is a Comprehensive Income?

• What is the difference between Perpetual and Periodic Inventory systems?

• What is the difference between provision and reverse?

• What is an adjusting journal entry?