1. The systematic recording of business transactions from source documents into final accounts is called 2. The summarizing, analysis, and interpreting of accounting information for purposes of communicating to other stakeholders is called 3. Identify the Receiver and Giver in the following transaction: '15 June, 2020 Sold goods on credit to James K15,000' 4. Sale of goods by cheque will be entered in the 5. Net profit is calculated in the 6. Which of these best describes fixed assets? 7. Suppliers' personal accounts are found in the 8. A debit balance of K100 in a cash account shows that 9. K50 cash taken from the cash till and banked is entered 10 A credit balance of 200 on the cash columns of the cash book would mean 11 Which financial statement displays the revenues and expenses of a company for a period of time? 12 What is the main purpose of financial accounting? 13 14 The accrual basis of accounting records revenues when they are: The account format that displays debits, credits, balances, and headings Asset accounts have what type of balance? 15