Tag: Accountants

Accounting Multiple Choice Question – 14 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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The double entry to record a settlement or cash discount granted by a supplier is?

Select ONE answer:

  1. Debit Payables, Credit Discounts allowed
  2. Debit Payables, Credit Discounts received
  3. Debit Discounts received, Credit Payables
  4. Debit Discounts allowed, Credit Payables

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
  3. Not correct
  4. Not correct

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

Accounting Multiple Choice Question – 12 February 2024

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

In double-entry bookkeeping, which of the following statements is TRUE?

Select ONE answer:

  1. Credit entries decrease liabilities and increase income
  2. Debit entries decrease income and increase assets
  3. Credit entries decrease expenses and increase assets
  4. Debit entries decrease expenses and increase assets

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
  3. Not correct
  4. Not correct

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

Accounting Multiple Choice Question – 7 February 2024

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

Which ONE of the following are source documents that are recorded in an entity’s books of original or prime entry?

Select ONE answer:

  1. Goods received note
  2. Invoice to a customer
  3. Purchase order to a supplier
  4. Delivery note to a customer

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
  3. Not correct
  4. Not correct

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

Accounting Multiple Choice Question – 6 February 2024

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

A business has the following payroll costs for a month:

  • Gross pay – £38,600
  • Income tax – £5,400
  • Employee’s national insurance – £3,100
  • Employer’s national insurance – £3,500

What is the wages cost to the business for the month?

Select ONE answer:

  1. £38,600
  2. £42,100
  3. £47,100
  4. £50,600

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 – 38,600 + 3,500 = £42,100
  3. Not correct
  4. Not correct

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

Accounting Multiple Choice Question – 29 January 2024

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

Which of the following is a book of prime or original entry?

Select ONE answer:

  1. Nominal ledger
  2. General Journal or Journal
  3. Receivables ledger
  4. Asset register

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
  3. Not correct
  4. Not correct

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