a. Discuss the difference in the role of the journal and the ledger in capturing accounting information efficiently and effectively.
b. Outline the entity concept and how it impacts on the recording of personal and business transactions?
c. How would you describe the purpose of a trial balance? Identify the type of errors that could be discovered by preparing a trial balance?
d. Summarise the debit and credit rules. Provide examples of two transactions and examine the application of the debit and credit rule.