Book-keeping entries relating to Cash Purchases are:
A. credit purchases account & debit Cash/ Bank account
B. debit purchases account & debit Cash/ Bank account
C. credit purchases account & credit Cash/ Bank account
D. debit purchases account & credit Cash/ Bank account
Book-keeping entries relating to Payment received from debtor are:
A. debit bank/ cash account & credit debtor’s account
B. credit bank/ cash account & credit debtor’s account
C. credit bank/ cash account & debit debtor’s account
D. debit bank/ cash account & debit debtor’s account
.............. is direct transfer between bank accounts, involving fixed accounts at regular intervals.
A. standing order
B. direct debit
C. Cheque
D. credit transfer
............. accounts are individual accounts of debtors and creditors.
A. personal
B. impersonal
C. real
D. nominal
.............. Ledger is used to record creditor accounts
A. Sales
B. Purchases
C. General
D. Private
.............. is a direct means of transferring money through the bank systems, which is initiated by the paying party.
A. direct debit
B. cheque
C. standing order
D. credit transfer
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. infrequent/ Regular
B. regular/ regular
C. regular/ infrequent
D. infrequent/ infrequent
Book-keeping entries relating to Credit Sales are:
A. credit customer’s (debtor’s) account & debit sales account
B. debit customer’s (debtor’s) account & credit sales account
C. debit customer’s (debtor’s) account & debit sales account
D. credit customer’s (debtor’s) account & credit sales account
The term ‘account’ means .....
A. a record of transactions by category (purchases, for example), or by person or organization.
B. person (or business) to whom money is owed by the business
C. person (or business) who owes money for goods or services supplied by the business
D. taking an ownership of an asset now, but paying for it at later stage
Book-keeping entries relating to Cash Sales are:
A. debit Cash/ Bank account & credit Sales account
B. credit Cash/ Bank account & credit Sales account
C. debit Cash/ Bank account & debit Sales account
D. credit Cash/ Bank account & debit Sales account
Book-keeping entries relating to Credit Purchase are:
A. credit purchases account & debit supplier’s (creditor’s) account
B. credit purchases account & credit supplier’s (creditor’s) account
C. debit purchases account & debit supplier’s (creditor’s) account
D. debit purchases account & credit supplier’s (creditor’s) account
Book-keeping entries relating to Purchases Returns are:
A. credit Returns Outwards account & debit supplier’s (creditor’s) account
B. debit Returns Outwards account & credit supplier’s (creditor’s) account
C. credit Returns Inwards account & debit debtor’s account
D. debit Returns Inwards account & credit debtor’s account
Book-keeping entries relating to Sales Returns are:
A. debit Returns Inwards account & credit debtor’s account
B. credit Returns Outwards account & debit supplier’s (creditor’s) account
C. credit Returns Inwards account & debit debtor’s account
D. debit Returns Outwards account & credit supplier’s (creditor’s) account
From the transaction below: ‘You owed A John, a creditor £2,000 for the goods bought from him & you paid your debt within required time; hence 3% cash discount was received’.
How much cash discount did you received?
A. £1,940
B. £2,000
C. £60
D. £1,960
In the transaction: ‘Paid £442 in cash to A Dobbs in settlement of a debt of £450’. What entries in the Cash book are done?
A. Cr Discount allowed £8 & Cr Cash £442
B. Cr Cash £442
C. Cr Discount received £8 & Cr Cash £442
D. Dr Cash £442
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. Dr Discount allowed £12 & Dr Bank £1,200
B. Dr Discount allowed £12 & Dr Bank £1,212
C. Dr Bank £1,200
D. Cr Discount received £12 & Dr Bank £1,200
From the transaction below: ‘The business owed L Turner £2,000 for the goods bought from May 20th Year 2. By paying by cheque within a specified time (May 23, Year 2), the business can receive a cash discount of 5%’.
What entries in the cash book are necessary for this transaction?
A. Cr Discount received £100 & Cr Bank £1,900
B. Dr Discount received £100 & Dr Bank £1,900
C. Dr Discount received £100 & Cr Bank £1,900
D. Cr Discount received £100 & Dr Bank £1,900
In the transaction: ‘Withdrew £420 from bank to make cash in office’. What entries in the Cash book are done?Nếu vụ án không thuộc thẩm quyền của mình thì Tòa án phải trả hồ sơ cho Viện kiểm sát.
A. Dr Bank £420 & Cr Cash £420
B. Cr Bank £420 & Cr Cash £420
C. Dr Bank £420 & Dr Cash £420
D. Cr Bank £420 & Dr Cash £420
When you received money from debtors who pay their debts within required time, the discount you give him is called .............
A. trade discount
B. cash discount
C. discount allowed
D. discount received
From the transaction below: ‘A Smith owed the business £1,800 for the goods sold to him & he paid his debt within required time; hence 3% cash discount was given to him’.
What kind of discount is it?
A. discount received
B. discount allowed
C. Cash discount
D. Trade discount
