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WorksheetsJSS1 BUS STUD CBT
Total questions: 10
Worksheet time: 5mins
Source documents are important because they:
Serve as the basis for recording transactions
Are used to prepare budgets
Replace financial statements
D) Provide employment
A journal is also known as the:
Book of original entry
Balance sheet
Ledger
Trial book
Transactions are first recorded in the:
Journal
Cash book
Ledger
Bank statement
8. Double entry means every debit has a:
Corresponding credit
Source document
Cash flow
Ferry was
Bookkeeping is the process of:
Recording financial transactions
Advertising products
Writing books
Manufacturing goods
Bookkeeping helps a business to:
Keep track of income and expenses
Sell more goods
Hire staff
Borrow more money
One of the major tools of bookkeeping is the:
Ledger
Notice board
Calculator
Stock list
A computer keyboard is an:
Input device
Output device
Processing device
Storage device
A receipt is issued to:
Confirm payment has been made
Approve hiring
Confirm delivery of goods
Reject payment
A credit note is used to:
Reduce the amount owed by a customer
Record wages
Add to the invoice
Cancel sales
