January 2025 CSEC POA Question 1-38

January 2025 CSEC POA Question 1-38

9th - 12th Grade

38 Qs

quiz-placeholder

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January 2025 CSEC POA Question 1-38

January 2025 CSEC POA Question 1-38

Assessment

Quiz

Business

9th - 12th Grade

Hard

Created by

Kerwin Alexander

FREE Resource

38 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following financial statements shows the value of a business assets?

Trading account

Cash flow statement

Profit and loss account

Statement of financial position

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following formulae is used to calculate take-home pay?

Gross pay - Deductions

Net pay + Deductions

Net pay + Gross pay

Gross pay - Net pay

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Partnerships are formed for the purpose of

I, II and III

I and II only

combining capital from different persons

benefitting from different skills and specializations

sharing ideas, experiences and responsibilities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following features of a partnership states that the actions of one partner binds all other partners?

Mutual agency

Unlimited liability

Voluntary association

Co-ownership of property

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Into which of the following accounts is the difference entered when a trial balance fails to agree?

Control

Reserve

Suspense

Provision

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following represents the correct statement of financial position equation for calculating the value of assets?

Assets = Capital

Assets + Liabilities

Capital - Liabilities

Liabilities + Capital

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following entries would NOT appear in a cash book?

Payment for goods

Goods sold on credit

Goods bought for cash

Cheques received for goods

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