Gr9 EMS | Term 2 Lesson 1 | Debtor, Concepts, Credit Transaction

Gr9 EMS | Term 2 Lesson 1 | Debtor, Concepts, Credit Transaction

9th Grade

10 Qs

quiz-placeholder

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Gr9 EMS | Term 2 Lesson 1 | Debtor, Concepts, Credit Transaction

Gr9 EMS | Term 2 Lesson 1 | Debtor, Concepts, Credit Transaction

Assessment

Quiz

Business

9th Grade

Hard

Created by

Content Creation

Used 12+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

State whether the following statement is true or false? Credit sales are when customers buy goods and only pays for them later.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The following statement explains the credit limit.*

If you charge a debtor interest for late payment

If you give the debtor discount

The maximum amount the debtor can owe on a specific date

How long can the debtor pays his/her account

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Debtors is a/an …*

Fixed asset

Current asset

Income

Expense

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

 What is the source document and journal of the following transaction:  Sold goods on credit to Pieter  Potgieter, R6 000.

Original invoice and CRJ

Duplicate Receipt and CRJ

Duplicate invoice and DJ

Original invoice and DJ

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is the source document and journal of the following transaction:  Received payment on account from Pieter Potgieter, R2 500.

Original invoice and CRJ

Duplicate receipt and CRJ

Duplicate invoice and DJ

Original invoice and DJ

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

 Complete the following transaction. The business uses a profit mark-up of 20% on cost. Sold goods on credit to Smith Traders for R3 600. What amount are you going to write in the Sales column?

R2 880

R3 600

R3 000

R3 000

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Complete the following transaction. The business uses a profit mark-up of 20% on cost. Sold goods on credit to Smith Traders for R3 600. What amount are you going to write in the Cost of Sales column?

R2 880

R3 600

R3 000

None of the above

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