Accounting Part 2
Authored by Bailey Rocky
Other
9th - 12th Grade
Used 1+ times
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35 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Debtors control is
Non-current asset
Current liability
Current asset
An expense
2.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Assets and expenses are both
equity accounts
uses of funds
sources of funds
balance sheet items
3.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
An income is
Money coming into a business
A value sacrificing activity
A use of funds
A value generating activity
4.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
A creditor is
a supplier the business buys from on account
A customer the business sells to on account
someone who owes the business money
a long-term liability
5.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
A debit order is
an agreement with the bank that they will pay a set amount on your behalf to settle a monthly bill.
an agreement with another business that they will send you monthly bill to your bank for payment.
an agreement with the bank to enable the business to over-spend on their account up to a limit.
the source document used to complain about damaged goods or incorrect charges.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Drawings is
An asset
A liability
An equity
An income
An expense
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Creditors control is
an asset
A liability
An equity
An expense
An income
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