Book-keeping

Which one is NOT an asset

• Cash

• vehicle

• inventory

• Bank loan

According to AAT, which one of these is a standard members are required to adopt?

• Objectivity

• Time-keeping

What does CPD mean?

• Continuous Professional Development

• Confidential Pricing Decisions

• Collaborative Practice and Due care

Which document is used when goods are dispatched?

• sales invoice

• sales invoice

• delivery note

• remittance advice

Which side of the cash book is used for money going out of the business? Payments

• Left

• Right

Which document is typically issued to request payment from a customer?

• Sales invoice

• Credit note

• Purchase order

• Delivery note

What VAT percentage is used for utilities? i.e. electric

• 20%

• Exempt

• 10%

• 5%

Which document is used to correct an error in a sales invoice?

• Credit note

• Debit note

• Delivery note

• Receipt

What is the stanard VAT rate for most goods and services? i.e. food

• 10%

• 15%

• 17.5%

• 20%

Which side of the cash book is used for money coming into the business? Receipts

• Left

• Right