Determination Debtors And Creditors - SS1 Accounting Past Questions and Answers - page 1
1
What are debtors also known as?
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A
Accounts payable
B
Accounts receivable
C
Creditors
D
Stockholders
2
What are creditors also known as?
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A
Accounts payable
B
Accounts receivable
C
Creditors
D
Stockholders
3
How does a business determine who its debtors are?
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A
By keeping track of unpaid invoices and customer accounts
B
By keeping track of unpaid bills and supplier accounts
C
tracking employee salaries
D
By monitoring office expenses
4
How does a business determine who its creditors are?
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A
By keeping track of unpaid invoices and customer accounts
B
By keeping track of unpaid bills and supplier accounts
C
By tracking employee salaries
D
By monitoring office expenses
5
Why is it important for a business to keep track of its debtors and creditors?
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A
To ensure a healthy cash flow
B
To increase employee salaries
C
To purchase more office supplies
D
To decrease office expenses
6
What is the difference between debtors and creditors?
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7
How can a business manage its cash flow effectively by monitoring its debtors and creditors?
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