Tag: Sales Daybook

Accounting Multiple Choice Question – 8 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.

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. Payables ledger
  4. General Journal

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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Accounting Multiple Choice Question – 3 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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In which book of prime entry or original entry is VAT on credit sales recorded?

Select ONE answer:

  1. Sales daybook or Sales Journal
  2. Purchases daybook or Sales Journal
  3. Cash book
  4. General Journal or Journal

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

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

Accounting Multiple Choice Question – 27 January 2024

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

Two statements are made below:

Statement 1 – Books of prime or original entry in a standard double entry bookkeeping system are used to list similar transactions with the totals being posted to the nominal ledger.

A True
B False

Statement 2 – The sales journal or sales daybook is the book of prime or original entry for discount allowed to customers.

C True
D False

Which combination of the two statements is correct?

Select ONE answer:

  1. A & C
  2. B & C
  3. B & D
  4. A & D

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 – (the cash book is the book of original entry for discounts)

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