Before attempting this assignment you should have read chapters 1 to 11 of your Osborne Book ”BASIC ACCOUNTING 1” and attempted the relevant chapter activities in your WORKBOOK. The pass mark for the assignment is 70% - should you fail then please review the areas where you are weak. If you are still having problems then please do not hesitate to contact AATFree Good Luck!
True
False
True
False
Postage
Stock or inventory
Window Cleaning
Window repairs
Taxi fares
Asset
Liability
Income
1 and 2
1 and 3
2 only
3 only
1 and 2
1 and 3
2 and 3
3 only
True
False
True
False
Assets - Capital = Liabilities
Liabilities + Capital = Assets
Liabilities + Assets = Capital
Assets - Liabilities = Capital
Office Furniture
Cash at Bank
Accounts receivable
Loan from V Porter
Office fixtures sold
Goods sold on credit
Goods sold for cash
Sale of item previously included in 'Purchases'.