(i) System in which entry is recorded for cash as well as credit transactions.

Give the word term or phrase which can substitute each of the following statement :

(i) System in which entry is recorded for cash as well as credit transactions.

(ii) The concept under which comparison of one accounting period with the other period is possible.

(iii) A science and art of correctly recording in the books of accounts, all those business transactions that result in the transfer of money or money’s worth.

(iv) Exchange of goods and services either for cash or any other goods or services.

(v) Sale or purchase of goods or services for immediate cash payment.