Control Accounts Part 2

Control Accounts Part 2

10th Grade

8 Qs

quiz-placeholder

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Control Accounts Part 2

Control Accounts Part 2

Assessment

Quiz

Other, Business

10th Grade

Practice Problem

Hard

Created by

Khairul Adli

Used 85+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A credit sales of goods is recorded under which control account and what will the particulars of the transaction be in that control account?

Trade receivable control account as Inventory

Trade payable control account as Sales revenue

Trade receivable control account as Sales revenue

Trade payable control account as Inventory

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A credit purchase of goods is recorded under which control account and what will the particulars of the transaction be in that control account?

Trade payable control account as Cost of sales

Trade payable control account as Inventory

Trade receivable control account as Sales revenue

Trade receivable control account as Cost of sales

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Returns to suppliers which were made on credit is recorded under the trade payable control account. What will the particulars be recorded as?

Sales returns

Purchase returns

Inventory

Suppliers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cheques received from customers is recorded under which control account and what will the particulars be recorded as?

Trade receivable control account as Cash at bank

Trade receivable control account as Sales revenue

Trade payable control account as Trade receivables

Trade payable control account as Inventory

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Discount received is recorded under which control account?

Trade receivable control account

Trade payable control account

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The offset between trade payables and trade receivables is recorded under which control account?

Trade payable control account only

Trade receivables control account only

Both control accounts

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

One of your classmates here lives in Bishan. Who is he/she?

Grace

Chloe

Yi Wen

Xavier Kek

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