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Financial Statements of NPO

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Question

Write the most appropriate word/term/phrase which can substitute each of the following statements:
The process of recording transactions in the journal.

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Solution

The General Journal is called the book of original entry and the process of recording transactions in the journal is called journalizing.

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Q. Write the most appropriate word/term/phrase which can substitute each of the following statements:
A book in which all business transactions are first recorded.

Q. Write the most appropriate word/term/phrase which can substitute each of the following statements:
Book of original entry or Book of daily records.

Q. Write the word / term / phrase which can substitute each of the following Statements.

Name the method in which only cash and personal transactions are recorded.

Q. Write the most appropriate word or phrase which can substitute each of the following:
A documentry evidence of the transaction.

Q. Give the word term or phrase which can substitute each of the following statements :

System in which entry is recorded for cash as well as credit transactions.

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