
Income State and TB S09/10
Authored by Ross Cornes
Business
10th - 12th Grade
Used 4+ times

AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A shop makes all its sales for cash.
Where does the sales account appear?
cash book
nominal (general) ledger
sales journal
sales ledger
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which account could appear in either the debit column or the credit column of a trial balance?
bad debts
bank
drawings
sales
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is an income statement (profit and loss account)?
A list of all the assets and liabilities of a business at a particular
date.
A list of all the balances in the ledger accounts of a business at a particular date.
A statement of receipts and payments of a business during a
particular period.
A summary of income and expenditure of a business during a
particular period.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How is working capital calculated?
current assets – current liabilities
current assets + current liabilities
non-current (fixed) assets + current assets – current liabilities
non-current (fixed) assets + current assets + current liabilities
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How is total Capital (Employed) calculated?
current assets – current liabilities
current assets + current liabilities
non-current (fixed) assets + current assets – current liabilities
non-current (fixed) assets + current assets + current liabilities
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A sole trader compares his results with those of a similar business.
Which shows how well expenses are being controlled?
bank balance
cost of sales
gross profit
profit for the year
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Miriam had the following assets and liabilities on 30 December 2008.
$
motor vehicles 5 000
stock 16 000
trade receivables 4 000
bank (dr) 3 000
trade payables 11 000
On 31 December 2008 Miriam invested a further $4500 as capital.
What was Miriam’s capital on 31 December 2008?
$21 500
$28 000
$32 500
$43 500
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
15 questions
B.E. Chapter 4: Private Enterprise
Quiz
•
9th - 12th Grade
10 questions
Entrepreneurship Unit 1
Quiz
•
11th - 12th Grade
10 questions
Analyzing Transactions in Accounting
Quiz
•
9th - 12th Grade
12 questions
Bonds and Funds Quiz
Quiz
•
12th Grade
15 questions
Chapter 2: What it takes to be an Entrepreneur
Quiz
•
9th - 12th Grade
15 questions
Types of Business Models
Quiz
•
9th Grade - University
16 questions
A1: Chapter 5 Review
Quiz
•
10th Grade
10 questions
Ethics in Business (Vocab) icev
Quiz
•
9th - 12th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
20 questions
Figurative Language Review
Quiz
•
6th Grade