Day: October 25, 2023

Accounting Multiple Choice Question – 25 October 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 Trading Ltd shows the following statement of financial position extract as at 31 December 2022.

  • ordinary share capital (£1 each) – £70,000
  • retained earnings – £6,200
  • 6% debentures repayable 2030 – £10,000
  • trade payables – £5,200
  • accruals – £2,700
  • prepayments – £4,100
  • bank overdraft – £20,200

What amount is shown as current liabilities as at 31 December 2022?

Select ONE answer:

  1. £24,000
  2. £28,100
  3. £38,100
  4. £40,200

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 – £5,200 + £2,700 + £20,200
  3. Not correct
  4. Not correct

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