Tag: AQA

A customer paid a deposit in advance for goods to be supplied at a later date.

How should this be recorded in the seller’s books?

Select ONE answer:

1. debit cash / credit customer
2. debit cash / credit sales
3. debit customer / credit prepayment
4. debit customer / credit sales

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
2. Not correct
3. Not correct
4. Not correct

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Which item is revenue expenditure?

Select ONE answer:

1. cost of painting new office premises during construction
2. cost of repairs to factory plant and machinery
3. legal fees for the purchase of new factory premises
4. wages of a company’s own workmen for building an office extension

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

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

What is an advantage of using the pay back method of capital investment appraisal?

Select ONE answer:

1. calculates hire purchase instalments
2. calculates profitability
3. determines the efficiency of a process
4. evaluates risk

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

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

The standard cost of materials for production amounts to £17,100.

The materials price variance is £1,800 favourable, the materials usage variance is £1,000 adverse.

What is the actual material cost?

Select ONE answer:

1. £14,300
2. £15,300
3. £16,100
4. £16,300

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 == > £17,100 – £1,800 + £1,000

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