Accounting Multiple Choice Question – 13 September 2020

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

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A club provided the following information for the year 2019.

  • Receipts = £21,600
  • Payments = £20,000
  • Depreciation charge for the year = £1,250
  • Accumulated fund at the year end 2019 = £15,800

There were no accruals and prepayments and there had been no capital expenditure or capital receipts.

What was the accumulated fund at the start of the year (end of 2018)?

Select ONE answer:

  1. £60,000
  2. £70,000
  3. £90,000
  4. £100,000

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 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct – £150k – £90k = £60k therefore £160k – £60k = £100k

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