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ACC1100 - ACF1100 - Introduction to financial accounting - S1 2025

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When a service has been performed by a business but no cash has been received, which of the following statements is true:
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In relation to cash-basis accounting, which of the following is false?
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Under accrual accounting, expenses are recorded only:
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Which of the following statements is false about a drawings ledger account?

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Which of the following statements is true about a capital ledger account?

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Which of the following statements is false about an asset ledger account?

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Which of the following statements is true about a liability ledger account?

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Which of the following statements is false about an expense ledger account?

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A business received its electricity account for the month of November which showed usage of $100. The account was due to be paid in December. Which of the following is true?
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In a service business such as a consulting firm, income is considered earned under accrual accounting:
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