Page 5 - HA
P. 5
Long Answers
1. Describe the events recorded in accounting systems and the
importance of source documents in those systems?
2. Describe how debits and credits are used to analyse transactions.
3. Describe how accounts are used to record information about the
effects of transactions?
4. What is a journal? Give a specimen of journal showing at least five
entries.
5. Differentiate between source documents and vouchers.
6. Accounting equation remains intact under all circumstances. Justify
the statement with the help of an example.
7. Explain the double entry mechanism with an illustrative example.
