
Gr9 EMS | Term 2 Lesson 1 | Debtor, Concepts, Credit Transaction
Quiz
•
Business
•
9th Grade
•
Hard
Content Creation
Used 12+ times
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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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