Tag: ICAEW

Accounting Multiple Choice Question – 24 October 2023

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

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Certain information concerning Non-current Assets must be disclosed in the notes to the financial statements.

To which of the following does this rule not apply?

Select ONE answer:

  1. economic useful life of asset
  2. method of depreciation used
  3. scrap value of asset
  4. total depreciation for period

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
  4. Not correct

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Accounting Multiple Choice Question – 23 October 2023

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

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Extracts from the statement of financial position of Alex Trading plc show:

                                                                            
             at 30 September year 2022       at 30 September year 2023

net assets £16,000 £24,000

financed by:

issued share capital £10,000 £15,000
share premium account NIL £2,500
revaluation reserve £500 £800
retained earnings £3,500 £4,200
debentures £2,000 £1,500

                                                                            £16,000                                         £24,000

What is the net cash movement from ‘Financing’ for the year ended 30 September 2023?

Select ONE answer:

  1. £7,000
  2. £7,300
  3. £7,500
  4. £8,000

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 == > £15,000k – £10,000k + £2,500 + (£1,500 – £2,000)
  2. Not 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 – 22 October 2023

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

apple devices books business coffee
Photo by Serpstat on Pexels.com

Which heading in a company’s cash flow statement would include an investment of surplus funds for six months?

Select ONE answer:

  1. capital expenditure and financial investment
  2. financing
  3. management of liquid resources
  4. returns on investment and servicing of finance

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
  4. Not correct

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