3. What are the general rules for debit and credit?
4. What is meant by the term balance? When is an account said to show a debit balance, and when a credit balance?
5. How many methods of bookkeeping are in use? Name them.
6. How is double entry distinguished from single entry bookkeeping?
7. What is the fundamental principle of double entry bookkeeping?
8. Name two or more advantages of double entry bookkeeping.
9. What name is given to books used for bookkeeping records?
10. Into how many classes are account books divided? Give examples.
11. Name and give the principal uses of the most commonly used books.
12. What is meant by journalizing? by posting?