AAT Level 2 Bookkeeping Transactions

AAT Level 2 Bookkeeping Transactions

Professional Development

20 Qs

quiz-placeholder

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AAT Level 2 Bookkeeping Transactions

AAT Level 2 Bookkeeping Transactions

Assessment

Quiz

Other

Professional Development

Medium

Created by

Marieta Miteva

Used 423+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For most transactions, where is the first entry made in the accounting records?

In the trial balance

In the ledger

In a book of prime entry

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is correct?

Capital = Assets + Liabilities

Capital = Assets - Liabilities

Capital = Liabilities - Assets

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following will give cleared funds in the recipient's bank account on the same day as they are sent?

BACS payment

CHAPS payment

Cheque payment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following is not correct?

An asset account will have a debit balance

A liability account will have a debit balance

An income will have a credit balance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The trial balance is:

A listing of all the balances of the accounts in the main ledger

A listing of some of the balances of the accounts in the main ledger.

A first attempt at balancing an account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When an invoice is posted to a customer's sales ledger account, which of the following would you not expect to see entered in the sales ledger?

Invoice date

Invoice number

Gross amount

Net amount

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Sales returns day book lists:

Items received back from customers by the stores department

Credit notes issued to customers

Reports of the profit made on sales for the month

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