1. The discipline that provides the means for recording/writing the economic history which has facilitates the dealing between business enterprises is?--------------------------------------------2. Scholars has described accounting as the ---------------------------------------- of businesses3. The economic history of an organization is essential for?---------------------------------------------4. The definition of accounting is pivoted on three pillars, state them.---------------------------------------------------------------------------------------------------------------------------------------------------5. The routine work schedule of a bookkeeper on daily basis has been summarized into four stages, List them.----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------6. The routine accounting practice processes on yearly basis has been summarized into four stages, List them.----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------7. The process of recording daily business accounting transactions in a consistent way is termed as?-------------------------------------------------8. State all possible disciplinary areas that a potential accounting student like you can aspire to specialize to become in the near future?------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------9. A business is an organization in which basic ---- are assembled and processed to provide ----to customers.------------------------------------------------------------------------------------------------10. Business organizations are set up to operate on some principled motives. List the motives upon which businesses are set up.---------------------------------------------------------------------------------------------------------------------------------------------11. State the three types of business ownerships practice in Ghana?---------------------------------------------------------------------------------------------------------------------------------------------12. Users of accounting information can be classified into two main groups state them?----------------------------------------------------------------------------------------------13. According to your lecture slides state all the users of accounting information.-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------14. A statement prepared to provide information on the financial performance, financial position and the cash flows of a business entity is known as?-----------------------------------------------15. State all the elements of financial statements.--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------16. The proceeds of money received from the owner as result of an additional investment into an existing business is term as ----------------------------------------------------- expenditure 17. ----------------------------------------- is the expenditure incurred to acquire, manufacture, or improve assets for the purpose of earning income over time in an organisation. 18. List down the two types of receipts-------------------------------------------------------------------------------------------- 19. state the two types of expenditures-------------------------------------------------------------------------------------------- 20. ------------------------------------------ they are properties acquired to be used in a business organisation for a period more than one year. 21. According to IAS, 16 ---------------------------------------------------------- is defined as the systematic allocation of the depreciable amount of an asset over its useful life. 22. According to your lecture slides, state the causes of depreciation----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------23. Different methods are applied based on the type of asset and usage, or based on the different assumptions that are made, state any six (6) depreciation methods applicable in depreciating non-current assets.------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Question

1. The discipline that provides the means for recording/writing the economic history which has facilitates the dealing between business enterprises is?--------------------------------------------2. Scholars has described accounting as the ---------------------------------------- of businesses3. The economic history of an organization is essential for?---------------------------------------------4. The definition of accounting is pivoted on three pillars, state them.---------------------------------------------------------------------------------------------------------------------------------------------------5. The routine work schedule of a bookkeeper on daily basis has been summarized into four stages, List them.----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------6. The routine accounting practice processes on yearly basis has been summarized into four stages, List them.----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------7. The process of recording daily business accounting transactions in a consistent way is termed as?-------------------------------------------------8. State all possible disciplinary areas that a potential accounting student like you can aspire to specialize to become in the near future?------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------9. A business is an organization in which basic ---- are assembled and processed to provide ----to customers.------------------------------------------------------------------------------------------------10. Business organizations are set up to operate on some principled motives. List the motives upon which businesses are set up.---------------------------------------------------------------------------------------------------------------------------------------------11. State the three types of business ownerships practice in Ghana?---------------------------------------------------------------------------------------------------------------------------------------------12. Users of accounting information can be classified into two main groups state them?----------------------------------------------------------------------------------------------13. According to your lecture slides state all the users of accounting information.-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------14.  A statement prepared to provide information on the financial performance, financial position and the cash flows of a business entity is known as?-----------------------------------------------15. State all the elements of financial statements.--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------16. The proceeds of money received from the owner as result of an additional investment into an existing business is term as ----------------------------------------------------- expenditure 17. ----------------------------------------- is the expenditure incurred to acquire, manufacture, or improve assets for the purpose of earning income over time in an organisation. 18. List down the two types of receipts--------------------------------------------------------------------------------------------	19. state the two types of expenditures--------------------------------------------------------------------------------------------		20. ------------------------------------------ they are properties acquired to be used in a business organisation for a period more than one year. 21. According to IAS, 16 ---------------------------------------------------------- is defined as the systematic allocation of the depreciable amount of an asset over its useful life. 22. According to your lecture slides, state the causes of depreciation----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------23. Different methods are applied based on the type of asset and usage, or based on the different assumptions that are made, state any six (6) depreciation methods applicable in depreciating non-current assets.------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Accepted Answer

1. Accounting consists of processing,measurement and communication of financial as well as non…