Bookkeeping controls

Bookkeeping controls

Professional Development

16 Qs

quiz-placeholder

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Assessment

Quiz

Business

Professional Development

Medium

Created by

Victoria Carver

Used 12+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which payment method clears your bank account the following day?

CHAPS

Direct Debit

Debit Card

Faster Payments

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a feature of an overdraft?

overdraft facility is for a given time period

interest is charged on a daily basis

overdraft is a good long-term financing method

can be a flexible way to borrow

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which payment method is most appropriate for paying a large deposit to a solicitor?

CHAPS

BACS

Cheque

Cash

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following needs to be corrected in the cashbook when preparing a bank reconciliation?

Unpresented cheque

Missed direct debit payment

Outstanding lodgement

Opening balance difference

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of below is not an example of a control account?

Sales Ledger Control Account

Purchase Ledger Control Account

VAT Control Account

Subsidiary Account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If my SLCA has an opening balance of £500, credit sales of £1,000 and payments received of £750. What is my balance carried down?

£750

£1,000

£500

£1,500

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When reconciling the sales ledger to the SLCA, the sales ledger is £500 higher than the SLCA. What could have caused this?

An invoice has been entered twice in the Sales Ledger

An invoice has been entered twice in the SLCA

A sales return has been entered twice in the sales ledger

An irrecoverable debt has been omitted from the SLCA

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