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SS1: FINANCIAL ACCOUNTING - 1ST TERM

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  1. Introduction to Booking Keeping and Accounting | Week 1
    11 Topics
    |
    1 Quiz
  2. Introduction to Books of Account | Week 2
    6 Topics
    |
    1 Quiz
  3. Subsidiary Books of Account I | Week 3
    4 Topics
    |
    1 Quiz
  4. Subsidiary Books of Account II | Week 4
    4 Topics
    |
    1 Quiz
  5. Principles of Double Entry Book Keeping | Week 5
    1 Topic
    |
    1 Quiz
  6. Cash Book | Week 6
    6 Topics
    |
    1 Quiz
  7. Petty Cash Book | Week 7
    1 Topic
    |
    1 Quiz

Quizzes

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Topic Content:

  • Meaning of Debtor
  • Features of Debtors
  • Meaning of Creditor
  • Features of Creditors
  • Differences between Creditors and Debtors

Debtor:

This is the customer for goods sold on credit. He/she is an entity that owes another entity. A debtor may be an individual, corporate organization or government.

Features of a Debtor:

(i) It is a current asset.

(ii) Debtor is an item in the balance sheet.

 

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