may june 2019

may june 2019

9th - 12th Grade

30 Qs

quiz-placeholder

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may june 2019

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Assessment

Quiz

Other

9th - 12th Grade

Hard

Created by

Nadiah Dm

Used 2+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is the main function of book-keeping?

communicating information

interpreting information

recording information

summarising information

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Which does not reduce the owner's capital?

business expenses paid using a personal cheque

cash withdrawn from the business bank account for personal use

goods taken from inventory for personal use

personal expenses paid using business cash

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What would be recorded by a debit entry in a ledger account?

a decrease in an asset

an increase in a liability

an increase in an asset

an increase in capital employed

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

In April Meena and Ralph invoices for $170, $240, $125 and a credit note for $63. In the same month Ralph sent Meena a debit note for $70 and a cheque for $107.


What was the balance on Meena's account in Ralph's books in 1 May?

$295 credit

$295 debit

$365 credit

$365 debit

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Media Image

Tahir purchased goods on credit from Yasmin.


How did Yasmin record this?

A

B

C

D

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Media Image

Jane invoiced John for goods, $5000. John took a cash discount of 5% and sent Jane a cheque for the amount due.


Which entries will appear in Jane’s cash book?

A

B

C

D

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

After receiving her bank statement Lyn updated her cash book. Which items would reduce the overdrawn balance in the cash book?


1 bank interest received


2 credit transfer received


3 direct debit payment

1 and 2 only

1 and 3 only

1,2 and 3

2 and 3 only

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