Accounting Multiple Choice Question – 3 December 2019

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

Accounting

In the case of a newsagent, which of the following is a revenue receipt?

Select ONE answer:

  1. The proceeds of the sale of plant and equipment.
  2. Money received from an insurance company as a result of crashing a delivery vehicle.
  3. A refund received from a supplier as compensation for damaged stock supplied.
  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 3

  1. Not correct – The proceeds of the sale of plant and equipment is a capital receipt.
  2. Not correct – Money received from an insurance company as a result of crashing a delivery vehicle is a capital receipt
  3. Correct
  4. Not correct

 

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Author: stuart001uk2014

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

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