
Level 2 revision-Synoptic Lesson 1
Quiz
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Professional Development
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Professional Development
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Practice Problem
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Medium
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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A carried down bank balance on the ________ side of the cash book means that there is money in bank.
Debit
Credit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The VAT fraction is
1/2
1/3
1/6
1/12
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A document sent by the seller to a trade receivable stating the amount payable and date due is a
Remittance Advice
Bank Statement
Invoice
Statement of Account
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A cash purchase of £85 has been recorded in the cash book only. This will
cause an imbalance in the trial balance
not cause an imbalance in the trial balance
5.
DRAG AND DROP QUESTION
1 min • 1 pt
"I've had an email from the accounts supervisor at Jones Ltd concerned about their statement of account. She says there are sales invoices that she knows nothing about. I wonder if they should be for T Jones and that we have made an error of (a)
6.
DRAG AND DROP QUESTION
1 min • 1 pt
A (a) would be used to pay £380 for new tyres for the company van.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Travis Limited manufactures bicycles from components. Classify the following cost by function (production, administration, or selling and distribution)... Advertising costs
Production
Selling and Distribution
Administration
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When costing a future product the labour cost may need to be estimated by using planned labour rates and expected times to make the product.
True
False
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial accounts provide the best source of data for future costs.
True
False
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