Tag: Topic 3

Accounting Multiple Choice Question – 2 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 or original entry would discounts allowed be recorded?

Select ONE answer:

  1. Sales day book or Sales Journal
  2. Purchases day book or Purchase Journal
  3. Cash book
  4. 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 3

  1. Not correct
  2. Not correct
  3. Correct
  4. Not correct

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Accounting Multiple Choice Question – 1 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 purchases goods on credit from Lucy Wholesalers Ltd for £1,000.

£100 of these goods are defective and Alex Trading returns them to Lucy Wholesalers Ltd.

What document would Lucy Wholesalers Ltd issue to Alex Trading in respect of the returned goods?

Select ONE answer:

  1. Invoice
  2. Remittance advice
  3. Credit note
  4. Delivery note

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

Accounting Multiple Choice Question – 31 January 2024

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

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When a purchase invoice is received from a supplier which of the following documents would the invoice be normally checked to by a business?

Select ONE answer:

  1. Purchase order
  2. Remittance or payments advice
  3. Sales order
  4. Credit note

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 – 30 January 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 following data has been extracted from the payroll records of Alex Trading Ltd for the month of December 2023.

  • PAYE – £17,000
  • Employer’s NIC – £7,500
  • Employees’ NIC – £6,000
  • Cash paid to employees – £50,000

The wage expense for the month is?

Select ONE answer:

  1. £50,000
  2. £56,000
  3. £74,500
  4. £80,500

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 – 50,000 + 17,000 + 7,500 + 6,000 = £80,500

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.

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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.