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O-Level The double-entry recording system
What the O-Level syllabus expects for The double-entry recording system, and how to practise it.
What the syllabus expects
- Name which ledger accounts to debit and which to credit
- Write the journal entries
- Draw up the ledger accounts
Scope: Closing of income, expenses, drawings and dividends is done only at year end - Read the recorded transactions and the balances shown in the ledger accounts
More O-Level Principles of Accounts topics
Roles of accounting and of accountants · Stakeholders and what they need in order to decide · Judging profitability · Judging liquidity · Judging efficiency of inventory and trade receivables management · Kinds of business · all of O-Level Principles of Accounts