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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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Consequences of Conflicts and Solutions to Conflict - Social Studies Geography Scheme of Work, SS1, First Term - Geography Geography Scheme of Work, SS1, Second Term - Geography Geography Scheme of Work, SS1, Third Term - Geography Supply Elasticity: Elasticity of Supply explained - Economics Primates - Characteristics of Primates - Basic Science Demand Schedule - Types of Demand Schedule - Economics Production - Types of Production - Commerce Commerce: Definitions and Scopes of Commerce - Commerce Business Studies: What is Business Studies and Business? - Business Studies Biology: What is Biology? Are Viruses Living Organisms? - Biology Management: Elements of Management - Business Studies What is Management? Importance of Management - Business Studies Scheme of Work, Agricultural Science, SS1, First Term - Agricultural Science Scheme of Work, Agricultural Science, SS1, Second Term - Agricultural Science Scheme of Work, Agricultural Science, SS1, Third Term - Agricultural Science Constitution - Types of Constitution - Government Classification | Types of Planets and their Characteristics - Geography Planets of the Solar System with their Characteristics - Geography Government - Scope of Government - Government Government - Characteristics of Government - Government Government - Importance of Government - Government Illiteracy - Causes of Illiteracy - Civic Education Ionic Theory and Electrolysis - Chemistry Physical and Chemical Properties of Acids - Chemistry Functions of the Atmosphere - Geography Layers of the Atmosphere - Geography Effects of Improper Waste Management - Basic Science Waste Management: Causes of Waste - Basic Science Types of Heat Transfer: Conduction - 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