1. What is meant by the term Dual Accounting?

2. I would charge this type of Vatable Tax on my Sales. What is it?

3. What is the formula for calculating the amount of tax that I may owe to HMRC?

4. Describe 2 differences between book-keeping and accounting

5. Describe 3 reasons for maintain accurate financial records

6. This is a type of book whereby I maintain a record of all my Receipts and Payments

7. This type of Balance is shown at the top of the Cash Book at the start of the accounting period

8. Term used to describe amounts that have paid in to a bank account but not yet cleared through the banking system

9. These type of cheques are showing in our Cash Book but have not yet cleared through the banking system

10. What is the difference between Single Entry Book-keeping and Double Entry Book-keeping