Tag: Income & Expenditure

Accounting Multiple Choice Question – 11 February 2024

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

What transaction is represented by the double-entry:

  • debit rent (expense) and credit landlord (current liability)?

Select ONE answer:

  1. The receipt of rental income by the business
  2. The issue of an invoice for rent to a tenant
  3. The receipt of an invoice for rent payable by the business
  4. The payment of rent by the business

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.

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.

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

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

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

Accounting Multiple Choice Question -5 October 2023

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

Photo by Nataliya Vaitkevich on Pexels.com

Which transaction would appear in BOTH the receipts and payments account and the income and expenditure account of Milford cricket club?

Select ONE answer:

  1. the club bank balance
  2. the depreciation of the club pavilion
  3. the purchase of a motorised lawn mower
  4. the rent of the cricket ground

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

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