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WorksheetsEMS Grade 9 Lesson 23
Total questions: 10
Worksheet time: 6mins
A debtor is a ________.
Non-current Asset
Current Asset
Non-current Liability
Current Liability
When goods are sold on credit the transaction will be recorded in the _________.
Cash Payments Journal
Debtors Journal
Creditor Journal
Cash Receipts Journal
The Act is aimed at protecting consumers and producers and creating a fair credit market place in SA.
Credit Sales
Credit Reference
National Credit Act
Cash Sale
An agreement in which a buyer receives something of value now and agrees to repay the seller at a later date.
(a)
The owner rented part of the building to his sister to start a catering business. Receive her first month rental.
Cash Receipts Journal
Debtors Journal
Cash Payments Journal
Creditors Journal
What is the Accounting Equation?
A=L+OE
L=A+OE
A=OE+L
OE=L+A
When a debtor settles his account the transaction should be recorded in the _____.
Cash Receipts Journal
Cash Payments Journal
Creditors Journal
Debtors Journal
What does a customer receive when they have made a payment to your business?
Credit Note
Debit Note
Receipt
Invoice
The source document the customer receives when buying goods on credit is called_____.
Receipt
Payment
Invoice
Credit Note
Which two accounts are affected when an owner deposits R 50 000 into the business account?
Capital
Drawings
Bank
Salary/Wages
