Day: September 16, 2019

The payment by a firm of its VAT liability for a taxable period should initially be recorded in its …

Select ONE answer:

1. journal.
2. cash book (or cheque payments book).
3. sales daybook.
4. None of the above.

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

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

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

The answer is 2

1. Incorrect
2. Correct – All cash/cheque payments, irrespective of what the payment relates to, are initially recorded in the cash book (or cheque payments book).
3. Incorrect
4. Incorrect

 

This work is licensed under a Creative Commons Attribution 4.0 International License.