
10ACC Financial Reports + GST
Authored by Clara Sandona
Business
10th Grade
Used 6+ times

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10 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are input-taxed supplies, where GST is not charged?
Financial supplies
Sale of food in school canteens
Residential rent
Clothing
Education
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are the same as an income statement?
Statement of Financial Performance
Profit & Loss Statement
Balance Sheet
Statement of Financial Position
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Net profit =
gross profit + other revenue
gross profit - expenses
gross profit + other revenue - other expenses
gross profit - other revenue + other expenses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross profit =
Net sales + COGS
Net sales - COGS
Net sales + other revenue - COGS
Net sales - other revenue + COGS
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
If GST applies to a good or service, it is considered...
a GST taxable supply
a GST free supply
an input-taxed supply
none of the above
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following account types appear in the Balance Sheet?
Revenues
Expenses
Assets
Liabilities
Owner's Equity
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following accounts would be involved in the GJ for the following transaction: "Paid wages $600"
Wage expense
GST collected
GST credits received
Cash at bank
A/c Pay - Employee
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