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ACC1006

Authored by Woodridge Connect

Special Education, Education, Business

10th Grade

Used 1+ times

ACC1006
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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trading stock is always entered in the books at_____.

Cost price

Sales price

Cash Payment Journal

Cash Receipts Journal

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Income and expenses have an influence on the _______ of the business.

Assets

Owners Equity

Liability

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An asset purchase by the business with the aim of changing it into cash within one year, is a ______ asset.

Current

Non-current

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If bank is overdrawn, it is _________.

Current liability

Non-current liability

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Non-current assets consist of ______ and ______.

Fixed assets

Financial assets

Petty Cash

Trading stock

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