Question $1$

$(05)$

$1\mathrm{.}1.$ Choose the correct answer from those given. Write the letter only. E$.$G$.1\mathrm{.}1\mathrm{.}5.$ C

$1\mathrm{.}1\mathrm{.}1.$ The first document on which a transaction is recorded

A$.$ Cash Receipts Journal

B$.$ Cash Payments Journal

C$.$ Source document

D$.$ General ledger

$1\mathrm{.}1\mathrm{.}2.$ The cost of buying the products that are sold to customers

A$.$ Cost of sales

B$.$ Selling price

C$.$ Mark up

D$.$ Trading stock

$1\mathrm{.}1\mathrm{.}3.$ A business that sells goods or stock in small quantities directly to customers.

A$.$ Service business

B$.$ Manufacturing business

C$.$ Wholesale business

D$.$ Trading business

$(3)$

$1\mathrm{.}2.$ Define the following concepts

$1\mathrm{.}2\mathrm{.}1.$ Assets

$1\mathrm{.}2\mathrm{.}2.$ Inoame

$(2)$