Edexcel Year 10 Questions

Edexcel Year 10 Questions

10th - 12th Grade

13 Qs

quiz-placeholder

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Edexcel Year 10 Questions

Edexcel Year 10 Questions

Assessment

Quiz

Business

10th - 12th Grade

Practice Problem

Medium

Created by

Ross Cornes

Used 1+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A trader instructs his bank to make a payment of £100 to the electricity company every month. Which term describes this instruction?

credit transfer

direct debit

personal cheque

personal cheque

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is recorded on the credit side of a trade payables ledger control account?

credit purchases

discount received

payments to creditors

purchases returns

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a source of information for a trade receivables ledger control account?

petty cash book

purchases book

purchases returns book

sales day book

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A business buys goods for cash. What are the entries in its books for this transaction?

account debited cash

account credited purchases

account debited cash

account credited supplier

account debited purchases

account credited cash

account debited supplier

account credited cash

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Mr Patel buys goods for resale from Mr Singh on credit. The goods are unsuitable and

Mr Patel returns them without paying for them. Which document should

Mr Singh issue on receipt of the returned goods?

credit note

debit note

purchase invoice

receipt

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following accounts always has a debit balance?

Capital

Purchases

Purchase returns

Sales

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the term ‘working capital’ mean?

Capital/ equity invested by the owner(s)

Capital less drawings

Current assets less current liabilities

Non current assets less current assets

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