Day: August 12, 2023

Accounting Multiple Choice Question – 12 August 2023

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

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The table shows extracts from the trial balance of Alex plc as at 31 December 2022.

  • ordinary share capital – £20,000
  • share premium – £40,000
  • long term loan (repayable 2027) – £30,000
  • bank overdraft – £60,000
  • 4 % preference share capital – £50,000
  • 7 % debentures 2032 – £70,000

What is the total of ‘creditors: amounts falling due after more than one year’ in the balance sheet?

Select ONE answer:

  1. £100,000
  2. £150,000
  3. £160,000
  4. £210,000

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 1

  1. Correct – £30,000 + £70,000
  2. Not correct
  3. Not correct
  4. Not correct

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