Question: QUESTION 3 Note: paraphrase to avoid dislike bottom a. Briefly explain the following terms with the double-entry effects. Accrual Expenses Prepaid Expenses Provision for Doutbful

QUESTION 3

Note: paraphrase to avoid dislike bottom

a.

Briefly explain the following terms with the double-entry effects.

  1. Accrual Expenses

  1. Prepaid Expenses

  1. Provision for Doutbful Debts

  1. Bad debts

b.

Briefly explain the differences between depreciation expenses and accumulated of depreciation expenses with the extract of the effect in the financial statements.

c.

Briefly discuss the differences of capital expenditure and revenue expenditure.

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