Accounting Multiple Choice Question – 27 August 2020

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

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Tracey runs a clothing store. She sold a computer with a net book value of £2,000 for £1,800. Cash was received but no entries had been made in any accounts.

What is the effect of correcting this error on the statement of financial position?

Select ONE answer:

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
  2. Not correct
  3. Correct
  4. Not correct

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