Question

Identify the type of code used by a trading company Ms. Ahana Ltd.: \begin{center} \begin{tabular}{|c|l|} \hline Codes & Accounts
\hline CA005 & Super Ltd.
CA006 & Regina Ltd.
CA007 & Nasir \& Sons Ltd.
\hline \end{tabular} \end{center}

Hint:

Types of Codes in Accounting: - Sequential: Simple numerical order (101, 102...). - Block: Ranges assigned to categories (e.g., 1000-1999 for Assets). - Mnemonic: Memory aids (e.g., RNO for Revenue North Office). - Hierarchical/Group: Codes indicate relationships (e.g., 1000 Assets, 1100 Current Assets, 1110 Cash).

Answer 1

Analyzing the coding scheme: \begin{itemize} \item[(A)] Block codes: Assign ranges or 'blocks' of numbers/codes to specific categories. Here, codes CA005, CA006, CA007 seem to be assigned to specific accounts (likely Customers or Suppliers, represented by 'CA'). While not a strict range, the pattern 'CA' followed by sequential numbers suggests a block allocated for this type of account. \item[(B)] Mnemonic codes: Use letters or abbreviations that aid memory (e.g., 'ACC' for Accounts, 'PUR' for Purchase). 'CA005' doesn't inherently suggest 'Super Ltd'. \item[(C)] Encryptic codes: Codes designed to conceal information. Not evident here. \item[(D)] Sequential codes: Assign numbers in simple consecutive order (1, 2, 3...). While 005, 006, 007 are sequential, the prefix 'CA' makes it more specific than just sequential. \end{itemize} The structure 'CA' (likely signifying 'Customer Account' or similar) followed by a numerical sequence fits the description of block codes, where a specific block starting with 'CA' is used for these accounts.