Anh văn chuyên ngành 1 - AC10 (55)
In the accounting equation, ........
A. Total of assets is always bigger than total of capital and liabilities
B. The two sides will never be equal to one another
C. Total of assets is always smaller than total of capital and liabilities
D. The two sides will always be equal to one another
In the following transaction: ‘The owner puts a further amount into the business by cheque’, which account is debited and which account is credited?
A. debit the owner’s account & credit bank account
B. debit the owner’s account & credit capital account
C. debit bank account & credit capital account
D. debit bank account & credit the owner’s account
‘Capital’ is ................
A. record of transactions by categories
B. a type of financial statement
C. the amount of the owner’s stake in the business.
D. resources or items owned by the business
A .... is someone who owes you money after you sell him/ her on credit.
A. loan
B. debtor
C. creditor
D. liabilities
........... is a general term for activities of the business.
A. purchases
B. transactions
C. capital
D. sales
The word ......... in the heading of the balance sheet is linked to the idea of the snapshot photograph.
A. at
B. month
C. equal
D. with
Where balances are carried forward from one page to the next, ‘balance .........’ would appear at the bottom of one page and ‘balance .......’ at the top of the next page.
A. b/f – c/f
B. c/d – b/d
C. c/f – b/f
D. b/d – c/d
The account ‘Bank’ has 3 transactions during July, Year 4, including 1 debit entries with £2,000 and 2 credit entries with £170 and £240. How much is the balance of this account at the end of July, Year 4?
A. £1,690 Cr
B. £1,690 Dr
C. £1,590 Cr
D. £1,590 Dr
The difference between current account and deposit account is that current account is used for ............ banking and withdrawal of money, and in deposit account withdrawals will be .............
A. regular/ infrequent
B. regular/ regular
C. infrequent/ infrequent
D. infrequent/ Regular
4 types of personal accounts include capital, supplier, customer, and ..........
A. cash
B. drawings
C. bank
D. sales
.................. account is used for regular banking and withdrawal of money.
A. cheque
B. credit transfer
C. deposit
D. current
.............. Ledger is used to record creditor accounts
A. Purchases
B. Sales
C. Private
D. General
Book-keeping entries relating to Payment to creditor are:
A. debit creditor’s account & debit bank/ cash account
B. credit creditor’s account & debit bank/ cash account
C. credit creditor’s account & credit bank/ cash account
D. debit creditor’s account & credit bank/ cash account
Book-keeping entries relating to Cash Purchases are:
A. credit purchases account & debit Cash/ Bank account
B. credit purchases account & credit Cash/ Bank account
C. debit purchases account & debit Cash/ Bank account
D. debit purchases account & credit Cash/ Bank account
In the transaction ‘wages of £40 are paid in cash’, which entries are correct?
A. Dr wages account £40 & Dr Cash account £40
B. Cr wages account £40 & Cr Cash account £40
C. Cr wages account £40 & Dr Cash account £40
D. Dr wages account £40 & Cr Cash account £40
Book-keeping entries relating to Payment received from debtor are:
A. credit bank/ cash account & debit debtor’s account
B. credit bank/ cash account & credit debtor’s account
C. debit bank/ cash account & debit debtor’s account
D. debit bank/ cash account & credit debtor’s account
The term ‘account’ means .....
A. taking an ownership of an asset now, but paying for it at later stage
B. person (or business) who owes money for goods or services supplied by the business
C. a record of transactions by category (purchases, for example), or by person or organization.
D. person (or business) to whom money is owed by the business
In the transaction: ‘Received a cheque of £1,200 from A Smart in full settlement of debt of £1,212’. What entries in the Cash book are done?
A. Cr Discount received £12 & Dr Bank £1,200
B. Dr Discount allowed £12 & Dr Bank £1,212
C. Dr Discount allowed £12 & Dr Bank £1,200
D. Dr Bank £1,200
From the transaction: ‘Credit purchase from S Letts at list price of £250, subject to 10% trade discount; then return goods to S Letts at list price £40’. How much will the business record in Return Outwards account?
From the transaction: ‘K Devine returns to us goods with a list price of £150. No discount was previously made.’ In what accounts will it be recorded?
A. Cr K Devine £150 & Dr Returns Outwards £150
B. Dr K Devine £150 & Cr Returns Outwards £150
C. Dr Returns Inwards £150 & Cr K Devine £150
D. Cr Returns Inwards £150 & Dr K Devine £150
