CSEC POA PRACTICE

Quiz
•
Business
•
11th Grade
•
Hard
Kaydean Reid
Used 993+ times
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following can be found on both the income statement and on the balance sheet?
Drawings
Net profit
Bank overdraft
Account Receivable
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is NOT a capital expenditure?
Replacement costs
Purchase costs
Delivery costs
Repair cost
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The accounting entry for writing off a bad debt is
Dr Cash
Cr Bad debt
Dr Provision for bad debt
Cr Bad debt
Dr Bad debt
Cr Accounts payable
Dr Bad debt
Cr Accounts receivable
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A business shows accounts receivable as $84 000 and the provision for doubtful debts as $5040. The business is therefore maintaining a provision for doubtful debts of
3%
5%
6%
8%
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A motor vehicle which costs $150 000 is to be depreciated by 10% per annum. It is expected to remain in the business for 4 years.
Using the Reducing Balance Method, what is the provision for depreciation after 3 years?
$10,930
$12,150
$13,500
$15,000
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following are items found in the cash book but not on the bank statement?
Direct debit
Standing order
Credit transfer
Unpresented cheques
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
All the following are internal users of accounting except:
potential investors
board of directors
employees
owners
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