
ICAEW CFAB - Accounting - Chapter 5 Quiz
Authored by Hanan Suffian
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12 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In a period, sales are £140,000, purchases £75,000 and other expenses £25,000. What is the profit for the period to be transferred to the capital account?
A £40,000
B £65,000
C £75,000
D £140,000
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
During March, Chan had the following items in his cash at bank account:
Balance at 1 March (overdrawn) : £500
Receipts from credit customers : £12,000
Payments to credit suppliers : £7,000
Payments for expenses : £3,000
Cash drawn for own use : £1,200
Requirement
What is the balance on Chan’s cash at bank account at 31 March?
A Debit £300
B Credit £300
C Debit £1,300
D Credit £1,300
3.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Which two of the following items will be listed as a credit balance on a trial balance?
A Trade payables
B Purchases
C Sundry expenses
D Capital
E Drawings
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Select whether the following balance will be in the debit or the credit columns of the trial balance.
Machinery
Debit
Credit
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Select whether the following balance will be in the debit or the credit columns of the trial balance.
Trade payables
Debit
Credit
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Select whether the following balance will be in the debit or the credit columns of the trial balance.
Drawings
Debit
Credit
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Select whether the following balance will be in the debit or the credit columns of the trial balance.
Sales
Debit
Credit
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