Accounting Multiple Choice Question – 10 September 2018

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Which one of the following possible double-entries is correct?

Select ONE answer:

  1. Account to Debit Bank / Account to Credit Bank
  2. Account to Debit Vehicles / Account to Credit Bank
  3. Both of the above
  4. None of the above

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 2 – This is the correct double entry record when a firm buys a vehicle and pays for the asset by using a cheque.

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