1.If goods dispatched on an approval basis are mistakenly recorded as credit sales, what type of accounting error does this represent?
2.A transaction involving a sale of Rs. 50,000 intended for customer A was mistakenly recorded as a sale to customer B. What type of error does this represent?
3.How many primary systems of accounting are there?
4.What term is used to describe products that remain unsold?
5.What term is used to describe debts that must be settled within one month?
6.What term describes income that has been earned but has not yet been received?
7.What term is used for assets that arise only when a specific event occurs?
8.What term is used for assets that possess a tangible market value?
9.What term is used for assets that have a physical form?
10.What term is used when the owner takes cash out of the business for personal use?
11.What category do buildings and furniture fall under in accounting?