Grade 9 Pre-Test

All activities involving monetary value that take place between the business and other enterprises (people) must at some point be recorded in the books of the enterprise.

• Transaction

• Documents

• Journals

• General Ledger

• Trail Balance

Proof must be given that these transactions have already taken place. This includes a receipt, cheque, deposit slip, etc.

(a)  

A business will collect all the documents and sort it out in receipts and payments. A business will record all these transactions in.....

• Transaction

• Documents

• Journals

• General Ledger

• Trail Balance

When a business received money from a client for service rendered- In which journal should the transaction be recorded?

• Cash Payments Journal

• No Journal Entry

• Cash Receipts Journal

Mr. Fleho deposited money as capital contribution into the business bank account-In which journal should the transaction be recorded?

• No Journal Entry

• Cash Receipts Journal

• Cash Payments Journal

What does the Creditors journal record?

• Credit Sales

• Cash Purchases

• Credit Purchases

• Cash Sales

3. A credit sale is made to a customer, which accounting document is issued to the customer?

• Cash Bill

• Invoice

• Debit Note

• Memo

7. Received invoice from Benson for goods purchased. Which journals need to be recorded?

• Sales Journal

• Creditors Journal

8. Discounts given to customer to encourage them to purchase in a large volume is know as?

• Discounts Allowed

• Discounts Received

• Trade discounts

• Cash discounts

The correct accounting equation is

• OE+A=L

• L=OE-A

• A=OE+L

• L+A=OE