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S1 Accounting Lesson 2 Starter

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

The address of the business and the supplier should be included in a purchase order form.

a)

True

b)

False

2.

You do not need a description of the inventory items being bought

a)

True

b)

False

3.

You must include how much you will sell your product for.

a)

True

b)

False

4.

You must include the price paid and the quantity of each inventory item

a)

True

b)

False

5.

VAT means Value Added Tax

a)

True

b)

False

6.

Is it necessary to include the date of the transaction on a purchase order form?

a)

True

b)

False

7.

Should the terms and conditions of the sale be included in a purchase order?

a)

False

b)

True

8.

Is it optional to include the payment terms in a purchase order?

a)

True

b)

False

9.

Is it mandatory to include the buyer's contact information on a purchase order form?

a)

False

b)

True

10.

Should a purchase order include the expected delivery date?

a)

True

b)

False

11.

Is it necessary to specify the currency used in a purchase order?

a)

True

b)

False