Accounting Multiple Choice Question – 5 January 2023

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 cheque for payment of wages of £214 has been debited to the purchases account as £241.

A suspense account is created.

What are the correcting entries?

Select ONE answer:

  1. account to be debited £ – purchases 214 + suspense 27 & account to be credited £ wages 241
  2. account to be debited £ – wages 214 & account to be credited £ suspense 214 + purchases 0
  3. account to be debited £ – wages 214 + suspense 27 & account to be credited £ purchases 241
  4. account to be debited £ – purchases 241 & account to be credited £ wages 214 + suspense 27

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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