Accounting Multiple Choice Question – 10 January 2023

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’s treasurer has calculated that there is a deficit in the Income and Expenditure account.

How is this described in the Income and Expenditure account?

Select ONE answer:

  1. an excess of expenditure over income
  2. an excess of income over expenditure
  3. an excess of payments over receipts
  4. an excess of receipts over payments

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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