
Topic - Cash
Quiz
•
Other
•
9th Grade
•
Hard
Lee Chai
Used 3+ times
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15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Journal entries for recording payment to credit supplier are shown as Dr __, Cr ___
Cash, Trade payables
Cash in hand, trade payables
Cash at bank, trade payables
Trade payable, cash at bank
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Causes for dishonoured cheque does not include...
cheque has expired
payer's bank account is frozen
information on cheque is not complete
cheque is rejected
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a cheque deposited is dishonoured, the business will Dr __ , Cr ___
cash at bank, trade receivable
trade receivable, cash at bank
cash at bank, cash in hand
trade receivable, cash in hand
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A cheque is considered expired if it is dated more than ___ months ago and is no longer valid.
3
6
9
12
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A credit customer is given cash discount when he paid to the business.
When the cheque is dishonoured, what are the ___ accounts being reversed?
cash at bank, trade payable, discount received
cash at bank, trade receivable, discount received
cash at bank, trade receivable, discount allowed
cash at bank, trade payable, discount allowed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What types of discounts have to be recorded in the ledger accounts?
Trade discount
Cash discount
Discount allowed
Discount received
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Cash discounts are given to the credit customers when they buy goods in bulk.
True
False
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