Accounting Multiple Choice Question – 24 August 2017

Accounting

A business has received a credit note. What entries should be made in the business’s ledger accounts?

Select ONE answer:

Untitled 2

What is the definition of a credit note?
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Accouting KS5 classes.

The answer is 3 – Reduction of trade payables on the balance sheet and a credit to the profit and loss account in the purchase returns account.

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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