Day: July 8, 2023

Accounting Multiple Choice Question – 8 July 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

Alex plc shows the following balances that have been extracted from it’s Statement of Financial Position as at 31 March 2023.

  • share premium – £125k
  • provision for re-organisation – £90k
  • trade payables – £82k
  • accruals – £12k
  • estimated tax refund – £25k
  • bank overdraft – £74k
  • cash at bank – £44k

What amount is shown as current liabilities in the accounts?

Select ONE answer:

  1. £136,000
  2. £168,000
  3. £193,000
  4. £258,000

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 – £82K + £12k + £74k
  3. Not correct
  4. Not correct

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