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Grade 11: Creditors reconciliation

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

What is any resourced owned by a business?

a)

asset

b)

reconciliation

c)

accounts receivable

d)

debt

2.

When a cheque is deposited and collected by bank Pass Book is _____

a)

Debited

b)

Credited

c)

Written

d)

Dishounoured

3.

Overdraft means _____ balance of the Cash Book.

a)

Closing

b)

Opening

c)

Credit

d)

Debit

4.

Credit purchases are recorded in the

a)

Creditors Journal

b)

Debtors Journal

5.

Credit Sales are recorded in the

a)

creditors journal

b)

debtors journal

6.

EFT Payment Advice is

a)

a source document for payments

b)

advice on EFT payments from the bank

c)

advice on EFT payments by the business

d)

a source document for advice on payments to a company

7.

A businesses Creditors Control Account is a/an

a)

asset

b)

liability

8.

Returns to creditors transactions are recorded in the ...

a)

Creditors' allowance journal

b)

Debtors' allowance journal

c)

Creditors' returns journal

d)

Debtors' returns journal

9.

A liability that is repayable within a short time period is called a ...

a)

purchase on account

b)

current liability

c)

short term liability

10.

A creditor is a current ___ to an enterprise.

a)

asset

b)

liability

c)

customer

11.

Calculate the correct value owed to Ndiliswa Traders by Du Toit Stores on 31 August 2022.

 

a)

R22 180

b)

R20 840

c)

R20 380

d)

R38 140

12.

Look at the following statement received from Sunshine Stores, a creditor, and calculate the amount we owe them at the end of the month.

a)

R45 610

b)

R7 550

c)

R16 750

d)

R13 210

13.

During the reconciliation process, it was discovered that a payment of R 1 100 to a creditor was posted on the credit side in the creditors ledger.

a)

Dr. Creditors Reconciliation R1100

b)

Cr. Creditors Reconciliation R1100

c)

Dr. Creditors Ledger R2200

d)

Cr. Creditors Ledger R2200

14.

Debit note 6 had the incorrect amount, after investigation it revealed the correct amount was shown as R12 000 in the Statement of Account. It was recorded as R1200 in the Creditors Ledger

a)

Creditors Ledger decrease

b)

Creditors Ledger increase

c)

Creditors Reconciliation decrease

d)

Creditors reconciliation increase

15.

An Invoice of R10 110 appeared on the statement but was omitted from the Creditors ledger

a)

Dr. Creditors Ledger

b)

Cr. Creditors Ledger

c)

Dr. Creditors Reconcilaition

d)

Cr. Creditors Reconciliation