Chapter 7 - Accounting for service businesses

Chapter 7 - Accounting for service businesses

11th Grade

22 Qs

quiz-placeholder

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Chapter 7 - Accounting for service businesses

Chapter 7 - Accounting for service businesses

Assessment

Quiz

Business

11th Grade

Hard

Created by

Amanda PENDLETON

Used 9+ times

FREE Resource

22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Once source documents have been collected and sorted it is necessary to record the data they contain into ...

Statement of Receipts and Payments

Cash Flow Statement

Journals

Balance Sheet

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an Accounting record that classifies and summaries all cash received from other entities during a particular reporting period?

Cash Payments Journal

Cash Receipts Journal

Balance Sheet

Income Statement

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is not a heading in the Cash Receipts Journal?

Date

GST

Drawings

Bank

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Any receipts that are infrequent should be recorded in which column of the Cash Receipts Journal?

GST

Sundries

Fees

Drawings

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following receipts are subject to GST?

Loans

Capital contribution

Interest revenue

Fees for services rendered

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Just as cash receipts are recorded in a Cash Receipts Journal, cash payments are classified and summarised in a ...

Cash Receipts Journal

Cash Payments Journal

Statement of Receipts and Payments

Cash Flow Statement

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is not a heading in the Cash Payments Journal?

Date

GST

Bank

Receipt Number

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