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7707 BRS

Authored by Mariam Rehman

Other

12th Grade

Used 12+ times

7707 BRS
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13 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What would result in a cash book balance being lower than the balance showing on a bank statement?

A cheque received from a customer was not recorded in the bank statement.

A customer’s cheque dishonoured by the bank appeared only on the bank statement.

Payment by a customer directly into the bank was not recorded in the cash book.

Payment of insurance by standing order was not recorded in the cash book.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The following payments were made when a new machine was purchased.

How much was the capital expenditure?

$32 000

$33 300

$35 100

$37 100

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement about a two-column cash book is correct?

It is a ledger account for bank transactions only.

It is a ledger account for cash transactions only.

It is a book of prime entry.

It records cash discounts.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Peter’s bank statement showed a debit balance of $600 on 1 April. The following transactions took place in April.

What was the bank statement balance on 30 April?

$870 credit

$870 debit

$2070 credit

$2070 debit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which item would not be shown on a bank statement?

a cheque returned by the bank marked as ‘refer to drawer’

a monthly payment made for electricity by direct debit

bank charges

unpresented cheques

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statements about a three-column cash book are correct?

1 It contains ledger accounts for bank and cash.

2 It contains ledger accounts for discounts allowed and received.

3 It records transactions before they are recorded in the ledgers.

1 and 2

1 and 3

2 and 3

3 only

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jamal’s bank statement at 1 May 2021 showed a bank overdraft of $1460.

At that date there were unpresented cheques of $385 and uncredited deposits of $255. What was the cash book balance on 1 May 2021?

$1330 credit

$1330 debit

$1590 credit

$1590 debit

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