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



What students should know

A journal, also called book of original entry or book of primary entry or book of first entry or day book or chronological book is a book where daily transactions are recorded in a chronological order (the order of occurrence).

A journal contains the total record of all transactions made by a company. It can be distinguished into different types which will include:

  • Sales Journal: For recording inventory and sales.

  • Cash Receipts Journal: For recording money received from sales or cash inventory.

  • Purchase Journal: For recording all purchases made by a company.

  • General Journal and so on.

 

The content of a journal include the followings:

  1. The date when the transaction occurred.

  2. The description of the transaction.

  3. Debits

  4. Credits

  5. Accounts affected

Accounts

Bank Wire is a messaging system that allows banks to communicate the various events occurring on a clients’ account.

As an instance, when your account is credited by someone, you may get a notification from your bank with details concerning such transaction.

Such notification(s) from the above instance is a function of bank wire

The term 'wire' in a bank wire signifies a computer based programmed messages that are sent to the bank customers regarding their account information, transactions and other important financial notifications. These messages are always secured and may be encrypted along the wire.

Please read more on bankwire and wire transfer here

Accounts

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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 is false concerning cartilages and bones?

  • A. Cartilage does not have a direct blood supply while bones have direct blood supply
  • B. The process of ossification replaces a cartilage to bone
  • C. The protein that makes up cartilage is called chondrin while that that makes up bone is called ossein
  • D. Cartilage grows from both ends while bones grow from one of its epiphysis
  • E. They both have living cells within them
  • F. Haversian system is absent in cartilage but present in bones

Biology

Two lines that can never meet each other are best considered as _____ lines.

  • A. straight
  • B. vertical
  • C. horizontal
  • D. parallel
  • E. oblique
  • F. perpendicular

Mathematics

A form of government whereby each state that makes up a country has the power to govern itself and manage it's own resources is known as _____.

  • A. Democracy
  • B. Communism
  • C. Federalism
  • D. Meritocracy
  • E. Autocracy
  • F. Oligarchy

Government