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Test Your Knowledge Interesting facts for students What every student should know Quotes for Students



What students should know

Bookkeeping can be defined as all the activities that have to do with the orderly classification and recording of financial data or business transaction.

Bookkeeping assist the process of accounting via the taking of an accurate record keeping.

Accounting is a field of study that covers the entire process and practice of managing the finances of an individual or an organization.

In smaller organizations, a bookkeeper’s job may go beyond simple transaction recording, as they may also be involved in the accounting process of the organization. On the other hand, accountants may have to record financial transaction in addition to analyzing financial transaction.

Please read more on Bookkeeping and Accounting alongside their differences here

Accounts

Below are the importance of bookkeeping in any organization:

  • It brings accuracy into the recordings of the daily business transaction.

  • They provide the information on which financial accounts are prepared.

  • Aside from its importance in business organizations, it can also be used by nonprofit organizations and individuals.

  • It can also take record of liabilities, assets and loans. This function of bookkeeping can be crucial for many businesses.

Please read more on Bookkeeping and Accounting here

Accounts

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Principle of Marketing: Positioning as a Marketing Mix - Commerce Principle of Marketing: Packaging as a Marketing Mix - Commerce Chemistry Scheme of Work, SS1, First Term - Chemistry Chemistry Scheme of Work, SS1, Second Term - Chemistry Chemistry Scheme of Work, SS1, Third Term - Chemistry Literature in English Scheme of Work, SS1, 1st Term - Literature in English Literature in English Scheme of Work, SS1, 2nd Term - Literature in English Literature in English Scheme of Work, SS1, 3rd Term - Literature in English Characteristics of Double Entry System - Accounts Examples on the Principle of Double Entry System - Accounts Advantages and Limitations of the Double System in Accounting - Accounts Elements of Promotion in Marketing Mix - Commerce Principle of Marketing: Promotion as a Marketing Mix - Commerce Biology Scheme of Work, SS1, First Term - Biology Biology Scheme of Work, SS1, 2nd Term - Biology Biology Scheme of Work, SS1, 3rd Term - Biology Prevention and Control of Crop Pests - Agricultural Science Economic Importance of Crop Pests - Agricultural Science Phrase: Types of Phrase - English Len Academy Questions for Basic Technology JSS3, 2nd Term, 2020 - Basic Technology Len Academy Question for Basic Technology, JSS3, 2nd Term, 2020, Part 2 - Basic Technology Classification of Insect Pests and their Economic Importance - Agricultural Science Jesus' teaching on Giving - CRS Concept, Advantages and Disadvantages of Multi-Party System - Government Belt and Pulley Drives: Types of Belt in Belt Drives - Basic Technology Seminal Vesicles and Bulbourethral Glands as Male Accessory Sex Organs - Biology Principle of Marketing: Place as a Marketing Mix - Commerce Agricultural Machines and their Uses - Agricultural Science Clause and Types of Clause explained - English Derived Units: Similarities and Differences with Fundamental Units - Physics

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Questions for Student

Please check out our Test Your Knowledge page to see all Questions and Answers

Which of the following statement is false concerning soil erosion?

  • A. The top soil is moved from one point to another

  • B. Man is an agent that bring about soil erosion

  • C. Wind and water are natural agents of soil erosion

  • D. Sheet erosion is said to occur when the surface of a land is eroded at an unequal levels

  • E. Deforestation will increase the likehood of wind erosion

  • F. Rill erosion results in the formation of miniature dongas on land

Agricultural Science

Gully erosion - Len Academy

The above diagram shows a _____ erosion.

  • A. Wind

  • B. Sheet

  • C. Rill

  • D. Gully

  • E. Landslide

  • F. Crooked

Agricultural Science

Costs generally treated as expenses in business are termed _____.

  • A. Fixed cost

  • B. Variable cost

  • C. Sunk cost

  • D. Direct cost

  • E. Private cost

  • F. Outlay cost

Economics