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Revision [Module 4 - 9]

Authored by Uyanda Ngobeni

Business, Other

11th Grade

Used 4+ times

Revision [Module 4 - 9]
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A partnership has a maximum of how many people?

1

2

20

No limit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the 2 is the correct formula to calculate depreciation using the diminished balance method?

CV X Depreciation % x Period/12

Cost x Depreciation % x Period/12

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Trading Accounts: What goes into the Credit side of a Trading Account?

Depreciation

Sales

Cost of Sales

Profit and Loss

Media Image

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Trading Accounts: What goes into the Debit side of a Trading Account?

Profit and Loss

Cost of sales

Sales

Media Image

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Media Image

Asset Disposal Account: What goes into the Debit side of an Asset Disposal Account?

Depreciation

The cost of the asset being sold

Accumulated depreciation

Profit on sale of asset

Selling price of the asset

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following is NOT part of the primary distribution?

Bonuses of partners

Interest on Capital

Salaries of partners

Interest Income

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Media Image

How is the secondary distribution calculated?

Profit less Primary distribution

Profit x Profit sharing % of each partner

Profit less Salaries less Interest on capital less bonuses

Capital x Profit sharing ratio

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