Accounting Multiple Choice Question – 4 May 2022

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

Accounting
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The following information is available for a business.

The balance on its purchases ledger control account was £5,900.

The total of the balances in its purchases ledger was £5,510.

The following errors were discovered.

  1. The purchases journal had been overcast by £250.
  2. A sales ledger contra of £340 had been omitted from the purchases ledger control account.
  3. A supplier was paid £400 which was correctly entered in the cash book but had been entered in the supplier’s account as £200.

What is the correct value of trade payables?

Select ONE answer:

  1. £5,110
  2. £5,250
  3. £5,310
  4. £5,510

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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Author: stuart001uk2014

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

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