Transaction Types Quiz
Authored by Sharita Bukirwa
Business
11th Grade
Used 3+ times
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55 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to record all transactions accurately?
To meet legal requirements and aid the smooth running of the business
To increase the number of transactions
To avoid paying taxes
To confuse competitors
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of an internal transaction?
Expense claims by employees
Paying a supplier
Buying an asset
Cash sales
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of transaction is paying a supplier?
External
Internal
Income
Expenditure
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of an expenditure transaction?
Buying an asset
Cash sales
Expense claims by employees
Paying a supplier
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a payroll transaction?
Cheque payments
Corporation tax
Wages & salaries
Cash withdrawals
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an example of a transaction related to taxes?
National insurance
Corporation tax
Cheque receipts
Supplier invoices
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a type of bank account transaction?
PAYE
BACS & CHAPS
Pensions
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