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WorksheetsCFAB - Accounting 1 - Revision - Chapter 3
Total questions: 10
Worksheet time: 4mins
A Quotation has been made ………… the sales order placed.
Before
After
Sale orders are source documents that are recorded in the sales daybook. True or false?
True
False
The debit note is a source document for goods return transactions.
True
False
Input VAT cannot be reclaimed if the expenditure has been made via petty cash. True or false?
True
False
Which of the following is not a book of original entry?
Sales invoice
Purchase daybook
Sales daybook
Journal
When an entity returns goods to a supplier it will expect to receive from the supplier…
An invoice
A credit note
A purchase invoice
A goods received note
The contribution of employees in NI is ...
an expense of the company
A part of Net pay
a salary deduction
not included in Gross pay
The cash book is the book of original entry for…
Receipts of amounts into the entity’s bank account only
Payments from the entity’s bank account
Both receipts and payment for the entity’s bank account
All cash transactions for the entity
Sales tax is due on all sales. Is this statement correct?
Yes
No
Sales tax is determined ...(1)... and ...(2)...
1. After trade discount
2. Before payment discount
1. Before trade discount
2. After payment discount
1. After trade discount
2. Payment discount
1. Before trade discount
2. Payment discount
