
Accounting Quiz
Quiz
•
Computers
•
7th Grade
•
Practice Problem
•
Hard
Riyaad Burtally
Used 1+ times
FREE Resource
Enhance your content in a minute
28 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which task would be carried out by a book-keeper?
A comparison of financial statements between years
B preparation of financial statements
C provision of information for decision-making
D recording financial transactions
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the accounting equation?
A assets = capital - liabilities
B assets = liabilities - capital
C assets - liabilities = capital
D assets + capital = liabilities
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The discount column on the debit side of a trader’s cash book totalled $1300 and the discount column on the credit side totalled $700. How much discount did the trader receive?
A $600
B $700
C $1300
D $2000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jabari maintains a petty cash book using the imprest system. The imprest is restored at the end of each month. Which amount restores the imprest at the end of a month?
A the amount left in petty cash less the total of vouchers received
B the amount left in petty cash plus the total of vouchers received
C the imprest amount less the total of vouchers received
D the total of vouchers received
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement about a trial balance is correct?
A It assists in locating arithmetical errors in the book-keeping records.
B It is proof that the entries in the ledger accounts are free from error.
C It reveals all book-keeping errors.
D It shows ledger account errors only.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of a compensating error?
A payment for office equipment repairs was debited to the office equipment account.
B A purchase of goods from C Jones was credited to the account of C Johns.
C The sale of goods, $65, to A Aziz was entered in the books as $56.
D The wages account was undercast by $100 and the rent account was overcast by $100.
7.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Why is a sales ledger control account usually prepared by a different member of staff than the person who maintains the sales ledger?
A to deter fraud
B to locate errors
C to provide an instant total of trade receivables
D to speed production of financial statements
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
25 questions
SAINS KOMPUTER TINGKATAN 4 - 1.6 STRUKTUR DATA DAN MODULAR
Quiz
•
7th - 12th Grade
23 questions
S.T.E.M. Trivia Night
Quiz
•
5th - 8th Grade
24 questions
แบบฝึกหัด IoT
Quiz
•
6th - 8th Grade
24 questions
App Design and AppShed
Quiz
•
7th Grade
24 questions
Y7 End of Topic Assessment: Networks
Quiz
•
7th Grade
26 questions
Telecommunications
Quiz
•
7th Grade
26 questions
Automation & Robotics Lesson 1 Vocabulary
Quiz
•
6th - 8th Grade
27 questions
M1 TEST for M1 - 1st Term
Quiz
•
7th Grade
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
54 questions
Analyzing Line Graphs & Tables
Quiz
•
4th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
