
Lesson 5 Start of lesson Chapter 6/7/8 recap

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Professional Development
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Professional Development
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Medium
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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculations on invoices must be checked. If the NET of goods is £55.78, what will be the VAT?
£11.15
£11.57
£11.156
£9.29
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business will use supplier codes to refer to accounts in the
General Ledger
Payables Ledger
Receivables Ledger
3.
MATCH QUESTION
1 min • 1 pt
Match the following
Goods Returns Note
Lists and accompanies the goods sent to the customer
Goods Received Note
Used by the customer to record receipt of goods and documenting any returns made
Delivery Note
Sent to the supplier by the customer with the unwanted goods
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A supplier duplicates an invoice for goods ordered, the likely effect will be
A decrease in the total amount owing shown on the statement of account
No effect at all
An increase in the total amount owing shown on the statement of account
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What action should be taken if a discrepancy is found between the supplier's statement and the payables ledger?
Ignore the discrepancy
Contact the supplier to resolve the discrepancy
Adjust the payables ledger without verification
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does BACS mean?
Bankers Authorised Clearing Service
Bankers Automated Clearing Services
Banking Automated Clearing Services
Banking Approved Cheque Services
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following shows the correct general ledger entries to record purchase of goods for resale on credit
Dr PLCA
Cr Purchases
Cr VAT
Dr Purchases
Cr VAT
Cr PLCA
Dr PLCA
Dr VAT
Cr Purchases
Dr Purchases
Dr VAT
Cr PLCA
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is recorded in the purchases day book?
Petty cash purchases
Purchase returns
Credit purchases
Cash purchases
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is typically not included in a supplier's invoice?
Invoice number
Customer's bank details
List of purchased items
Payment terms
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