
Diagnostic Test - 5th Form Sept 2020
Authored by Lorna Graham-Sterling
Business
9th - 11th Grade
Used 11+ times

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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A transaction is entered in a
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
________ proves the mathematical equality of debits and credits after posting
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following can be found on both the income statement and on the balance sheet?
Drawings
Net profit
Bank overdraft
Account Receivable
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
All the following are internal users of accounting except:
potential investors
board of directors
employees
owners
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following items will be recorded in the Returns Inwards Journal of L Cheng Ltd.?
Sale made for cash
Sales made on credit
Customer returns faulty goods to L Cheng Ltd
Faulty good return to a supplier by L Cheng Ltd.
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When a transaction is credited in the bank column of the cash book what source of payment is used in this transaction?
Cash
Cheque
Debit card
Credit card
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The source document entered in the Purchases Journal is a
purchases invoice
purchases receipt
credit note
debit note
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