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FA1 Topic 3 v1

Authored by Masz Mikan

Other

University

Used 5+ times

FA1 Topic 3 v1
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit purchase of motor vehicle.

Dt Motor Vehicle

Cr Creditor

Dr Purchase

Cr Creditor

Dr Motor Vehicle

Cr Debtor

Dr Purchase

Cr Debtor

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cash sales of goods.

Dr Cash

Cr Sales

Dr Sales

Cr Cash

Dr Cash

Cr Inventory

Dr Inventory

Cr Cash

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Returns goods to creditor.

Dr Creditor

Cr Returns Outwards

Dr Returns Outward

Cr Creditor

Dr Creditor

Cr Sales Returns

Dr Creditor

Cr Returns Inwards

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cash withdrew for personal use

Dr Drawings

Cr Bank

Dr Drawings

Cr Sales

Dr Bank

Cr Drawings

Dr Sales

Cr Drawings

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The owner brought in air-conditioner into the business.

Dr Fixtures

Cr Capital

Dr Asset

Cr Capital

Dr Fixtures

Cr Cash

Dr Capital

Cr Fixtures

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Received invoice from creditor.

Dr Purchase

Cr Creditor

Dr Sales

Cr Creditor

Dr Debtor

Cr Creditor

Dr Creditor

Cr Debtor

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Send credit note to buyer for goods returns.

Dr Return inwards

Cr Debtor

Dr Return inwards

Cr Buyer

Dr Creditors

Cr Return Outwards

Dr Purchase Returns

Cr Debtor

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