ACC1018

ACC1018

10th Grade

5 Qs

quiz-placeholder

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ACC1018

ACC1018

Assessment

Quiz

Education

10th Grade

Practice Problem

Easy

Created by

Woodridge Connect

Used 1+ times

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the third step in the accounting cycle of credit purchases of items?  

Creditors Journal

Posting to the General Ledger and Creditors Ledger

Trial Balance

Source document namely invoice

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you post a column total of a journal to the General ledger is must be on the last day of the month?

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are you going to post the following transaction to the General Ledger?

Received invoice from O'Neal Repairs for repairs to the vehicle, R17 500.

Debit Vehicles; Credit Bank R17 500

Debit Vehicles; Credit Creditors Control R17 500

Debit Repairs; Credit Bank R17 500

Debit Repairs; Credit Creditors Control R17 500

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit purchases are recorded in the …

CRJ

CPJ

DJ

CJ

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the owner takes cash for his own use, the procedure is to credit Bank and debit ..

Capital

Drawings

Sales

Cost of Sales

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