2017 2
Quiz
•
Education, Business, Other
•
9th - 11th Grade
•
Practice Problem
•
Hard
Nadiah Dm
Used 2+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which statement about the computerised accounting system is correct?
anyone with a computer can gain access to the accounting records.
data input can only be used for one specific purpose.
data output can only be understood by computer programmers.
operator error may result inn inaccurate information
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What increase owner's capital?
bank loan extended from five to ten years.
purchase of inventory on credit
purchase of machinery by cheque.
transfer of vehicle to business from private use.
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A trader provided the following extract from his journal.
Which entry was made in the account of J Sango in the sales ledger?
credit $80
credit $100
debit $80
debit $100
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What is correct about a bank reconciliation statement?
A
B
C
D
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which transaction is recorded in the general journal?
payment of cash into a business bank account
purchases of a motor vehicle on credit
receipt of a cheque from a customer
sale of goods on credit
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The following account in Sue's ledger.
Which statement is correct?
On 12 May Tony sold goods, $590, to Sue
On 16 May Sue returned goods, $21, to Tony
On 28 May Tony received discount, $6, from Sue
On 31 May Sue owed $679 to Tony
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Mark sold goods on credit to Paul for $5,000. Paul returned goods costing $200 to Mark.
What were the balances in Paul's ledger accounts after these transactions?
A
B
C
D
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