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What is the definition of SOLE TRADER?
What form of LIABILITY does a sole trader have?
How do sole traders get paid?
What is BOOKKEEPING?
What does a T LEDGER look like?
How does the DATA PROTECTION ACT 1998 affect a bookkeeper?
Complete this sentence:
The term ________ is used to describe a business owned by one person.
Complete this sentence:
Sole traders have _______. This means that should the business fail their personal wealth, as well as the amount they have invested in the business as capital, is at risk.
Complete this sentence:
The income tax and national contributions paid by sole traders is based on the _______ their business makes.
True or False:
In the interests of security, the door of the accounts office should be kept locked when the office is unoccupied.
True or False:
Personal data stored by a business must be kept under sage and secure conditions, with appropriate measures taken to protect the data from unauthorised access.
True or False:
Any documents, files or accounts on which you are working should be left on your desk when you leave the office each evening, so that they are easily accessible and can be found by a colleague next day if for some reason you cannot get into work.
Complete the sentence:
A bookkeeping system in which transaction are recorded by making an entry on the left-hand side of an account, with a corresponding entry also being made on the right-hand side of another account is known as the _________ system of bookkeeping.
Complete the sentence:
A trader takes some money from the shop's cash register at the end of each week for personal use. This is known as _________.
Complete the sentence:
In a double entry bookkeeping system accounts are kept in a book known as a _________.
