Day: February 9, 2024

Accounting Multiple Choice Question – 9 February 2024

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

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Alex Trading Ltd enters into the following transactions in relation to Lucy Wholesalers Ltd, a supplier which is also a customer.

Lucy Wholesalers Ltd buys goods from Alex Trading Ltd on credit terms.

The Alex Trading Ltd agrees to make contra entries in Lucy Wholesalers Ltd ‘s personal accounts in its own accounting system.

Which of Alex Trading Ltd’s accounting records is affected by each of these transactions?

Select ONE answer:

  1. Sales daybook or Sales journal
  2. Purchase daybook or Purchase Journal
  3. General Journal
  4. Payables ledger

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 4

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

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