Day: June 15, 2023

Accounting Multiple Choice Question – 15 June 2023

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

Photo by Olya Kobruseva on Pexels.com

The owner of a business paid for his family’s holiday from the business bank account and recorded the payment as drawings.

Which accounting concept is being applied?

Select ONE answer:

  1. Accruals
  2. Business Entity
  3. Going concern
  4. Prudence

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 2

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

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