IGCSE Accounting Chapter 1

IGCSE Accounting Chapter 1

10th Grade

11 Qs

quiz-placeholder

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IGCSE Accounting Chapter 1

IGCSE Accounting Chapter 1

Assessment

Quiz

Other

10th Grade

Hard

Created by

Jasmine Eng

Used 15+ times

FREE Resource

11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is done by a book-keeper?

Compare one year's results with those of previous years.

Analyse and interpret the accounting records.

Prepare financial statements.

Enter transactions in ledgers.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of accounting?

To avoid errors.

To calculate capital.

To ensure no transaction is missing from the books.

To record every transaction two times.

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Name the two financial statements.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does an owner of a business make use of the business' financial statements?

To calculate the amount owing by trade receivables.

To calculate the amount owing to trade payables.

To check the bank statement balance.

To monitor the progress being made by the business.

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following(s) describes "assets"?

Anything owed by a business.

Anything owned by a business.

Anything owed to a business.

Anything the business owed to the owner.

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What is capital?

Anything owned by a business.

Resources provided by owner.

Anything owed by the business to the owner.

Anything owed by the business to a third party.

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following(s) is assets?

Bank

Bank loan

Loan to employee

Loan from M&N Finance

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