For most transactions, where is the first entry made in the accounting records?
AAT Level 2 Bookkeeping Transactions

Quiz
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Other
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Professional Development
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Medium
Marieta Miteva
Used 423+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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