1. The set of double-entry accounts of a business is called the...?
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2. State a purpose of accouting (do 2 more if you can)
- To employ more people to make the business bigger
- To asses a business
- To make money
- To add numbers
3. What are the two basic accounting concepts which apply to all business accounts?
- Business entity and Money measurement
- Time and patience
- Purchase and Sales
- Profit and loss
4. Which one of these are two internal stakeholders?
- Parents of the owner's business
- Owner and manager
- Bank and goverment
5. Which 3 of these are external stakeholders?
- Suppliers, Employees and Customers
- Onwers, Managers and Co-manager