Accounting Chapter 6 - Past Year MCQ

Which business document shows all the transactions that have taken place with a customer during a month?

• credit note
• debit note
• invoice
• statement of account

Which document from a supplier reduces the amount owed by a customer?

• credit note
• debit note
• invoice
• statement of account

Which business document contains details of purchases, returns and payments occurring during a trading period?

• credit note
• debit note
• invoice
• statement of account

In which order are documents used when goods are purchased on credit?

• cheque, invoice, order
• cheque, order, invoice
• order, invoice, cheque
• invoice, order, cheque

When will a business issue a debit note?

• when goods are received from a supplier
• when goods are returned by a customer
• when goods are returned to a supplier
• when goods are sent to a customer

Which business document shows all the transactions that have taken place with a customer during a month?

• credit note
• debit note
• invoice
• statement

An invoice for goods, $1200, has been wrongly entered as a credit note. The balance on the purchases account is $17 000. What is the correct balance?

• $14 600
• $15 800
• $18 200
• $19 400

A supplier overcharges a customer for goods supplied on credit. Which document will the supplier issue to the customer?

• credit note
• debit note
• sales invoice
• statement

What is the use of a credit note?

• It is received from a supplier and increases the amount owed to him.
• It is received from a supplier and reduces the amount owed to him.
• It is sent to a supplier and increases the amount owed to him.
• It is sent to a supplier and reduces the amount owed to him.

What is another name for a copy of a customer’s account in the sales ledger when it is sent to the customer?

• credit note
• debit note
• invoice
• statement