Once source documents have been collected and sorted it is necessary to record the data they contain into ...
Chapter 7 - Accounting for service businesses

Quiz
•
Business
•
11th Grade
•
Hard

Amanda PENDLETON
Used 9+ times
FREE Resource
22 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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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