
Session 09
Quiz
•
Business
•
Professional Development
•
Practice Problem
•
Easy
Suhaina .
Used 1+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the Purchase Process, which document comes after the Purchase Request (PR)?
Sales Order
Delivery Note
Purchase Order
Invoice
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following accounts is most likely a control account?
Stationery Expenses
Accounts Receivable
Wages Payable
Prepaid Rent
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a Sales Order is fulfilled and goods are delivered, what document is generated next?
Quotation
Invoice
PR
GRN
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Goods Received Voucher (GRV) typically results in:
A decrease in liabilities
An increase in inventory
An increase in cash
A decrease in equity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do businesses use control accounts?
To avoid recording transactions
To monitor only cash balances
To summarize multiple detailed transactions
To reduce inventory count
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of a subsidiary ledger in relation to a control account?
To calculate profit margins
To store detailed information for individual accounts under a control account
To replace journal entries
To prepare the trial balance directly
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the Income Statement primarily show?
The company's total assets
The company’s profit or loss over a period
The bank balance
The tax paid
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