Day: November 17, 2023

Accounting Multiple Choice Question – 17 November 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 following information is taken from the stationery account of Alex Trading Ltd.

  • value of stationery inventory at the beginning of the year – £600
  • cash paid for stationery during the year – £7,000
  • amount owing for stationery at the end of year – £480
  • value of stationery inventory at the end of the year – £800

How much should be debited to the income statement for stationery?

Select ONE answer:

  1. £6,680
  2. £6,800
  3. £7,280
  4. £8,080

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 3

  1. Not correct
  2. Not correct
  3. Correct — > £600 + £7,000 + £480 – £800
  4. Not correct

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