AP1 Unit 4 MCQ: Control Accounts1. Entries in control accounts are made from
Cheque paid to Chiam was posted to Chiang%27s account., Discount received was not posted from the cash book to the personal account., Purchase of $98 recorded in the Purchases Journal was posted to the trade payable%27s account as $89., Returns Outwards Journal was undercast.,
2. Which error will affect the Purchases Ledger Control Account?
Bank statements., Books of original entry., Ledger accounts., Source documents.,
3. Trade receivables of a firm at the beginning of the year were $2,880 and at the end of the year amounted to $3,660. During the year, a total value of $4,110 cash and cheques were received from trade receivables. Calculate the total sales for the year.
Payments to trade payables., Discounts received., Cash Purchases., Credit Purchases.,
4. Total cash and cheques received from customers entered in the Sales Ledger Control Account consist of
Discount received., Cash sales., Received cheques from trade receivables., Returned goods to suppliers.,
5. Which of the following is not found in the Sales Ledger Control Account?
$2,430., $3,330., $4,890., $10,650.,
6. The balance on the business%27 Creditors Control Account at the end of the accounting period should tally with the total
Credit purchases of the business., Amount owed to all the individual trade payables by the business., Liabilities of the business., Amount paid to the trade payables.,
7. Which of the following item is NOT included in the Control Accounts?
Dishonoured cheques., Discount allowed on trade receivables withdrawn., Increase in allowance of impariment on trade receivables., Receipts from credit customers.,
8. Entries in Control Accounts are made from
As a credit in the Purchases Ledger Control account., As a debit in the Purchases Ledger Control account., As a credit in the Sales Ledger Control account., As a debit in the Sales Ledger Control account.,
9. Which item would not appear in the Purchases Ledger Control account?
Source documents., Ledger accounts. create online quizzes , Bank statements., Books of prime entry.,