FINANCIAL ACCOUNTING

Explain each of the following source documents: (i) credit note; (2 marks)November 2022 Gi) debit note; (2 marks)November 2022 (iii) Local Purchase Order (LPO); (2 marks)November 2022 (iv) invoice. (2 marks)November 2022

Explain each of the following accounting concepts: (i) consistency concept; (2 marks)November 2022 (ii) materiality concept; (2 marks)November 2022 (iii) | accrual concept; (2 marks)November 2022 (iv) going-concern concept. (2 marks)November 2022

Highlight four differences between a receipts and payments account and an income and expenditure account.(8 marks)November 2022

Explain four uses of control accounts. (8 marks)November 2022