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Q.1.2 Indicate whether the following statements are True or False, by...

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Accounting

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Q.1.2 Indicate whether the following statements are True or False, by writing down a 'True' or 'False' next to the number in your answer booklet. Q.1.2.1 All cash sales must be recorded in the debtors journal. (1) Q.1.2.2 An original credit note will be used to record returns/rebates in the (1) creditors allowances journal. Q.1.2.3 The general journal will be used to record transactions that cannot (1) be recorded in any of the subsidiary journals. Q.1.2.4 A business loss will decrease owner's equity. (1) Q.1.2.5 When a business owner takes goods home for his own use, an entry (1) to record this is unnecessary

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