A Level Accounting Retrieval Practice 1

A Level Accounting Retrieval Practice 1

12th Grade

20 Qs

quiz-placeholder

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A Level Accounting Retrieval Practice 1

A Level Accounting Retrieval Practice 1

Assessment

Quiz

Business

12th Grade

Hard

Created by

David Urquhart

Used 3+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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Explain which error has occurred

Compensation

Omission

Commission

Principle

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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Which of these answers will be incorrect?

The preparation of the trial balance would not discover this error as it an error of omission

The error might not be discovered because the total of the trade payables balances and the purchase ledger control account balances agree

The double entry will still be correct

The error might not be discovered because the total of the trade receivables balances and the Sales ledger control account balances agree

3.

OPEN ENDED QUESTION

10 mins • 1 pt

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The answer to this part of the question is (550). In the comment box explain how to get that figure. (Hint - You need to work out the revenue you can make off the items after replacing the damaged packaging. Then subtract the original cost of the items to get a figure)

Evaluate responses using AI:

OFF

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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How much did the goods originally cost? State which is correct

£2 800 × 100/125 = £2 240

£2 800 × 100/25 = £11 200

£2 800 × 25% = £700

£2 800 - £700 = £2 100

£2 800 × 125/100= £3 500

5.

FILL IN THE BLANK QUESTION

15 mins • 1 pt

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Using the Cost of Sales Formula work out the Cost of Sales figure. (Do not include the £ sign or put in any gaps)

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

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Calculate the amount of Shares that have been issued (Remember the formula - Share capital/Nominal Value of each share)

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

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A bonus issue of 2 new shares for every 5 shares held was made. What is the Bonus Issued amount? (Do not include the £ sign or any gaps in the number provided)

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