Accounting Multiple Choice Question – 3 May 2022

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

Accounting
apple devices books business coffee
Photo by Serpstat on Pexels.com

A business’s suspense account appears as follows:

discount allowed 150 opening balance 100
sales 50
£150 £150

Which statements are correct?

1 Total debits had been £100 less than total credits in the trial balance.
2 The sales account had been overcast by £50.
3 The discount allowed account had been overcast by £150.

Select ONE answer:

  1. 1 and 2
  2. 1 only
  3. 2 and 3
  4. 3 only

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

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

Author: stuart001uk2014

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

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: