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Introducing new Paper mode
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15 questions
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- Multiple ChoicePlease save your changes before editing any questions.
Money or other assets provided by the owner/s to start a business is:
Loans
Income
Assets
Capital
- Multiple ChoicePlease save your changes before editing any questions.
Money or items taken from the business by the owner for personal or family use is:
Capital
Drawings
Wages
Salaries
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is not Owner’s Equity?
Capital
Land and Buildings
Drawings
Profit
- Multiple ChoicePlease save your changes before editing any questions.
Money/anything owned that can be turned into money, including loans and payments owed to you:
Capital
Owners' Equity
Assets
Liabilities
- Multiple ChoicePlease save your changes before editing any questions.
Possessions purchased by the business with the intention of of using them for longer than a year:
Current Assets
Current Liabilities
Non-Current Assets
Non-Current Liabilities
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is not a Current Asset?
Bank (money in the bank)
Trading stock
Equipment
Debtors
- Multiple ChoicePlease save your changes before editing any questions.
Furniture and computers are:
Expenses
Liabilities
Current Assets
Non-Current Assets
- Multiple ChoicePlease save your changes before editing any questions.
An amount owed to a bank or other business is called:
Capital
Drawings
A Liability
An Asset
- Multiple ChoicePlease save your changes before editing any questions.
Money kept in the cash register to give change to customers:
Petty Cash
Cash Float
Capital
Money
- Multiple ChoicePlease save your changes before editing any questions.
The accounting term used to describe small cash payments made out of a cash box is called:
Petty Cash
Cash Float
Capital
Drawings
- Multiple ChoicePlease save your changes before editing any questions.
Money received for services rendered is a:
Current Asset
Current Liability
Current Income
Current Bank Account
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is not a business income?
Current Income
Wages and Salaries
Rent Income
Interest Income
- Multiple ChoicePlease save your changes before editing any questions.
Products / consumables used in the process of rendering a service is:
Materials
Equipment
Trading stock
Drawings
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is not an expense?
Stationary
Water and Electricity
Equipment
Wages and Salaries
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is not a source document?
A Receipt
A Bank Statement
A till slip/cash register roll(CRR)
A Cheque