year 7 business studies test, MR Dumle

The recording of cash and credit transactions in order to obtain necessary accounting information is known as 

• accounting

• book keeping

• receipt

• payment

The principal job of a bookkeeper is?

• To supply goods

• To keep account records of business transactions

• To buy and sell goods

• To manage business

Business transactions can either be?

• cash and sales

• credit and sales

• cash and credit

• payment and credit

The person entrusted with the task of handling the account and financial information is called?

• book keeper

• consumer

• trader

• supplier

A book keeper should possess the following qualities except 

• Must be honest and trustworthy

• Must have required qualification

• Must be a computer literate

• Must be forgetful

which of these is not a book keeping practice?

• Take care of slow moving inventory

• Watch for unusual changes in sales and expenses

• Closely watch your accounts receivable from customers

• Ignore gross profit

The following are appropriate books of account used to record day to day business transactions except

• ledger

• cash book

• petty cash book

• balance sheet

A bookkeeper reports to

• internal auditors

• employer

• government

• the prospects

Business transaction can be divided into

• one

• two

• three

• four

Which of the following defines bookkeeping?

• It is recording of business transactions

• It is the recording of business into the books of account

• It is the recording of financial transaction to easily determine profit or loss

• It is the keeping of business records