Classifications of ledger names Flashcards
(17 cards)
1
Q
Sales
A
Revenue/Income
2
Q
Fees
A
Revenue/income
3
Q
Commission Received
A
Other Income
4
Q
Gain on Sale of a Fixed Asset
A
Other Income
5
Q
Interest Received
A
Other Income
6
Q
Opening Inventory
A
Cost of Goods Sold (TE)
7
Q
Purchases
A
Cost of Goods Sold (TE)
8
Q
Purchases Returns
A
Cost of Goods Sold (TE)
9
Q
Customs Duty
A
Cost of Goods Sold (TE)
10
Q
Packaging
A
Cost of Goods Sold (TE)
11
Q
Freight In
A
Cost of Goods Sold (TE)
12
Q
Less Closing Inventory
A
Cost of Goods Sold (TE)
13
Q
What is the maximum number of Cost of Goods Sold?
A
7
14
Q
What is the minimum number of Cost of Goods Sold?
A
3
15
Q
Name the minimum Cost of Goods Sold Ledgers used
A
Opening Inventory
Purchases
Less Closing Inventory
16
Q
Name all the Cost of Goods Sold Ledgers
A
Opening Inventory Purchases Purchases Returns Freight in Less Closing Inventory
17
Q
Interest on Loan
A
Finance Expenses
