
Bookkeeping
Quiz
•
Business
•
10th Grade
•
Medium
Chloe Chia
Used 5+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following is not an asset?
Buildings
Cash in hand
Accounts receivable
Loan
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following best describes a trial balance?
It shows the financial position of a business
It is a special account
It shows all the entries in the books
It is a list of balances on the books
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Gross profit is_________________.
Net profit - expenses
Cost of goods sold + opening inventory
Sales - purchases
Revenue - cost of goods sold
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following best describe a Balance Sheet?
It shows the financial position of a business.
It is a special account.
It shows the profit or loss of a business.
It is a list of balances on the books.
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The statement of _____________
shows the profitability of the business
Cash flows
Profitability
Financial Position
Profit or Loss
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Mr A purchased goods on credit from Mr B but then returned them as they were faulty.
Which of the following statements would be true?
Mr A would send a credit note to Mr B
Mr A would send an invoice to Mr B
Mr B would send a credit note to Mr A
Mr B would send an invoice to Mr A
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is recorded in the purchases ledger?
Account Payable
Account receivables
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