Account Class Work

Account Class Work

5th Grade

5 Qs

quiz-placeholder

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Account Class Work

Account Class Work

Assessment

Quiz

Other

5th Grade

Practice Problem

Easy

Created by

Mercy Idowu

Used 3+ times

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Determine the liabilities from the following; i stock of goods

ii furniture

iii creditors

iv cash at bank

v loan from the bank

iii and iv

ii and iii

iv and v

i and ii

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cost of available for sale was valued at #7,700, stock as at 1/1/1998 was #1,300. What is the value of purchases?

#6,400

#9,900

#17,700

#5,700

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The item on the credit side of the trading account is ?

Carriage inward

Return outward

Sales

Purchases

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Net sales is given as #370,000, cost of goods available for sales as #270,000, cost of goods sold as #230,000, rent expenses #35000. Calculate the gross profit?

#370,000

#230,000

#150,000

#140,000

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross profit is given as #140,000, salaries #10,000, rent expenses #35000. Calculate the Net profit ?

#140,000

#185,000

#25,000

#95,000

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