Search Header Logo

Grade 8 Economic and Management Sciences Quiz

Authored by Rebecca October

Other

8th Grade

Used 3+ times

Grade 8 Economic and Management Sciences Quiz
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in the accounting cycle?

Trial balance

Source documents

Transactions took place

Financial statements

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which document is used to record cash received?

Duplicate receipt

Bank statement

EFT reference number

General ledger

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must be true about the debit and credit columns in a trial balance?

Debit column must equal credit column

Debit must be greater than credit

Credit must be greater than debit

They can be unequal

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the effect on the accounting equation when cash is received for services rendered?

Assets decrease, Owners' equity remains the same

Assets increase, Owners' equity increases

Assets decrease, Owners' equity decreases

Assets remain the same, Owners' equity increases

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a source document?

Cash register roll

Trial balance

General ledger

Bank statement

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Cullen Clever deposits R160,000 as a capital contribution, what is the effect on the bank account?

It increases by R3,600

It increases by R160,000

It decreases by R160,000

It remains the same

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the cash receipts journal?

To prepare financial statements

To record cash transactions

To close off accounts

To record all expenses

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?