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- 1. Multiple ChoiceThe main source of revenue for a trading businessSalesDividendsFees receivedCapital
- 2. Multiple ChoiceA possible main source of revenue for service businessFees receivedSalesInterest receivedCapital
- 3. Multiple ChoiceDecrease in revenue of a trading businessSales returnsPurchase returnsBad debtsDrawings
- 4. Multiple ChoiceStock at the beginning of the yearOpening InventorySalesPurchasesDrawings
- 5. Multiple ChoiceGoods purchased during the yearSalesInventoryPurchases
- 6. Multiple ChoiceGoods returned to suppliers that decrease Cost of goods soldSales returnsCredit purchasesPurchase returns
- 7. Multiple ChoiceExpense on buying goods from overseasDistribution costAdministrative costCost of Goods sold
- 8. Multiple ChoiceExpense on transportation of purchasesDelivery expensesFreight outwardsCartage on goods purchased
- 9. Multiple ChoiceExpense on transportation of goods soldFreight inwardsAdministrative costFreight outwards
- 10. Multiple ChoiceExpense on buying goods from overseasRatesGSTDistribution costCustoms duty
- 11. Multiple ChoiceExpense for increasing salesAccountants feesInterest on loansOffice wagesAdvertising
- 12. Multiple ChoiceWages paid to the Sales staffAdministrative costFinance costCost of Goods soldDistribution cost
- 13. Multiple ChoiceExtra payment based on goods sold by individual staffDiscountSalaryWagesCommission
- 14. Multiple ChoiceExpense for salespersons to travel for selling goodsAdministrative costFinance costCost of Goods soldDistribution cost
- 15. Multiple ChoicePetrol, Rego, insurance, repairs etc of the delivery vehiclesAdministrative costFinance costCost of Goods soldDistribution cost
- 16. Multiple ChoiceLoss of value during this year on a van used for sales and distributionAdministrative costDistribution costCost of Goods soldFinance cost
- 17. Multiple ChoiceLoss of value during this year on fittings used in officeFinance costAdministrative costCost of Goods soldDistribution cost
- 18. Multiple ChoiceExpense on an asset used for salesOffice equipment repairsRepairs on shop fittingsDrawingsInsurance- building
- 19. Multiple ChoiceExpense for hiring the place of salesRatesShop rentInsuranceInterest
- 20. Multiple ChoiceExpense on electricity at the place of salesDrawingsDistribution costCost of Goods soldAdministrative cost
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