Which Journals Would Have a Column for GST

question 64

Multiple Choice

Which journals would have a column for GST?

• A)Purchases and sales
• B)All the special journals
• C)Cash receipts and cash payments
• D)Cash receipts and sales

Understand and apply the concept of significant influence in determining the need for equity accounting.

Recognize and calculate goodwill arising from the acquisition of an interest in an associate.

Comprehend the implications of revaluations by an associate on the investor's financial statements.

Understand the accounting treatments and disclosures required for investments in associates including the discontinuation of equity method due to incurred losses.

---

Definitions:

Serial-Position Effect

A psychological phenomenon in which a person tends to remember the first and last items in a series better than the middle items.

Retrieval

The process of accessing and bringing into consciousness information stored in memory.

Stored Information

Data or knowledge retained in the mind or in digital/formal systems for future use.

Consciousness

A concept with many meanings, including sensory awareness of the world outside, direct inner awareness of one’s thoughts and feelings, personal unity, and the waking state.