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Creditors

Authored by Sandy Newborn

Other

10th Grade

Used 10+ times

Creditors
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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A creditor is a current ___ to an enterprise.

asset

liability

customer

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A liability that is repayable within a short time period is called a ...

purchase on account

current liability

short term liability

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Returns to creditors transactions are recorded in the ...

Creditors' allowance journal

Debtors' allowance journal

Creditors' returns journal

Debtors' returns journal

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A businesses Creditors Control Account is a/an

asset

liability

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

EFT Payment Advice is

a source document for payments

advice on EFT payments from the bank

advice on EFT payments by the business

a source document for advice on payments to a company

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit Sales are recorded in the

creditors journal

debtors journal

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit purchases are recorded in the

Creditors Journal

Debtors Journal

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