Y8 Business Studies - C6 Business Accounting

What is an account?

• A firm's transaction record.

• A firm's information technology record.

• A firm's employee record.

• A firm's sales record.

Below are the details that a final account gives, EXCEPT...

• Profit and loss made.

• The current value of the firm.

• The current number of employee in the firm.

• Other financial results.

Which type of company is compulsory to publish their account to the public?

• Sole trader.

• Limited company.

• Partnership.

• Club and society.

What is a purchase order?

• A document to confirm the receipt of the goods

• A request for payment from the supplier.

• A written order to a bank to pay money stated to a person.

• A request for buying products.

What is a delivery note?

• A document to confirm the receipt of the goods

• A request for payment from the supplier.

• A written order to a bank to pay money stated to a person.

• A request for buying products.

What is a cheque?

• A document to confirm the receipt of the goods

• A request for payment from the supplier.

• A written order to a bank to pay money stated to a person.

• A request for buying products.

What is an invoice?

• A document to confirm the receipt of the goods

• A request for payment from the supplier.

• A written order to a bank to pay money stated to a person.

• A request for buying products.

Which one is not a method of making payment?

• Cash

• Cash or cheque

• Credit card or debit card

• Barter system.

Who is a shareholder?

• The person who sell share in a company.

• The person who own share in a company.

• The person who issue share in a company.

• The person who trade share in a company.

The shareholders use the account to know what is the profit and losses made during the year.

• False

• True