Accounting Multiple Choice Question – 12 March 2021

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

Accounting
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A business omitted discounts allowed of £700 from its trial balance.

During the year a machine had been sold for cash of £500 but the only accounting entry made was a debit in the Bank account. 

What is the balance on the Suspense account? 

Select ONE answer:

  1. £200 debit
  2. £1,200 debit
  3. £200 credit
  4. £1,200 credit 

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 1

  1. Correct
  2. Not correct
  3. Not correct
  4. Not correct

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Author: stuart001uk2014

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

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