What documents are necessary to formulate in order to know the financial

situation and the net profit or loss of the company?

a) Balance Sheet and Profit and Loss Statement.
b) Balance Sheet and Capital Accounts
c) Asset and Liability Accounts
Are they types of accounts?
a) Debtor and creditor
b) Assets, liabilities and equity
c) Profit and loss
Are these accounts controlling the assets and rights owned by the company?
a) Active
b) Creditor
c) Capital
Are these the accounts that control the debts and obligations of the entity?
a) Debtor
b) Losses
c) Liabilities
Are the accounts controlling both the profits as well as the losses of the
business?
a) Balance sheet
b) Capital
c) Earnings
What is the column on the left side of an accounting account?
a) You must
b) See
c) Charge or debit
What is the column on the right-hand side of an accounting account?
a) Pay or credit
b) Charge or debit
c) See
It is the entry of an amount in the debit side of an account.
a) Charge or debit
b) Pay or credit
c) See
It is to credit an amount to an account.
a) Charge or debit
b) Pay or credit
 c) You must
What do we use to represent the account to explain the movements and
balances?
a) Account schema or G/L schema
b) Accounting scheme
c) Financial Schematic
Name that receives the sum of the charges on an account?
a) Debit movement
b) Credit movement
c) Balance
Name that receives the sum of the credits to an account?
a) Debit movement
b) Credit movement
c) Balance
It is the difference between the debit and the credit movement.
a) Payment
b) Capital
c) Balance
It is when the movements in an account are the same
a) Account settled or closed
b) Equalization account
c) Profit and loss statement
It is when the credit movement in an account is greater than the debit
movement.
a) Debit balance.
b) Credit balance
c) Assets