WorksheetsC2 POA Theory
Total questions: 9
Worksheet time: 9mins
Which is the purpose of credit note
To record credit sales/ purchase of goods
To record returns of goods bought/sold on credit
To record cash sales/purchases
To record an undercharge after the credit sale/purchases
Which is the purpose of debit note
To record credit sales/purchase of goods
To record returns of goods brought/sold on credit
To record cash sales/ purchases
To record an undercharge after the credit sales/ purchases
Which is the purpose of a receipt
To record credit sales/ purchases of goods
To record return of goods bought/ sold on credit
To record cash sales/ purchases
To record an undercharge after the credit sales/ purchases
Which is the purpose of an invoice
To record credit sales/ purchases of goods
To record returns of goods bought/ sold on credit
To record cash sales/ purchases
To record an undercharge after the credit sales/ purchases
State the objectivity theory
Cash transaction is when payment is made (a) during a cash sale or cash purchase
Credit transaction is when payment is made at a ______ date during a ______ sale/purchase
(a)
Which source document is used to process payment to credit suppliers, must be approved by authorised personnel and supported with original supplier's invoice
Payment voucher
Credit note
Debit note
What are the 4 stages of the accounting cycle
1) Adjust 2) Identify and record
3) Report
4) Close
1) Report
2) Adjust
3) Identify and record
4) Close
1) Identify and record 2) Adjust
3) Report
4) Close
1) Close
2) report
3) Identify and record
4) Adjust
