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Lesson No. 3 – Financial Accounting Course 2019 – Basic Terminologies

Welcome to your Lesson No. 3 - Financial Accounting Course 2019 - Basic Terminologies

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An accounting system in which events are recorded when actual cash / cheque is received or paid is known as __________ .
An accounting system in which events are recorded as and when they occur is known as __________ .
Which of the following expenditure is incurred again and again?
Annual repairing done to the building costed Rs. 50,000 should be treated as:
The expenses that give benefit for a period of more than twelve months are called ________.

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