11 markeasy
Which items are not shown on a statement of account?
Choose your answer
bank charges
credit notes
opening and closing balances
statement date
Accounting — 2021 Syllabus
11 questions · 11 marks · ≈ 11 min
Which items are not shown on a statement of account?
Choose your answer
bank charges
credit notes
opening and closing balances
statement date
Azar purchased goods from Lara. Azar paid for the goods by bank transfer when he received a statement of account, but Lara says that she has not received the payment.
Which one of the following documents would help Azar check that he had made the payment?
Choose your answer
bank statement
cheque counterfoil
paying-in slip
petty cash voucher
If a credit customer has returned goods or been overcharged, which one of the following documents would a supplier issue to the customer?
Choose your answer
cheque
credit note
debit note
invoice
Ben sold goods to Abigail on credit, but some of the goods were damaged in transit.
Which one of the following documents would Abigail send to Ben?
Choose your answer
credit note
debit note
invoice
statement of account
Which one of the following documents is provided by a supplier and reduces the amount owed by a customer?
Choose your answer
credit note
debit note
invoice
statement of account
Which one of the following documents does a trader issue to a credit customer to remind the customer that a payment is due?
Choose your answer
credit note
debit note
receipt
statement of account
What is the purpose of a cheque counterfoil?
Choose your answer
It is used to pay a cheque into the bank account.
It is used to pay for goods purchased by cheque.
It is used to record a cheque payment in the cash book.
It is used to record a cheque received in the cash book.
Leandu maintains a full set of accounting records for her business.
Why would it be useful for Leandu to complete the cheque counterfoil when she pays a credit supplier by cheque?
Choose your answer
It allows her to keep the purchases account up to date.
It is helpful for preparing the bank reconciliation statement.
It provides proof of the amount she has paid to the supplier.
It records information to help her maintain the cash book.
Mitig sold goods with a list price of $70 each.
The terms were as follows
How much did Mitig receive in full settlement from a customer who bought 60 items and paid after 30 days?
Choose your answer
$3150
$3528
$3780
$3948
In October, Eira sent Gwilym invoices for $205, $120 and $170, and a credit note for $72. Also in October, Gwilym sent Eira a cheque for $198 and a debit note for $80. There was no opening balance on Eira's account at the start of October.
What was the balance on Eira's account in Gwilym's books on 1 November?
Choose your answer
$145 credit
$145 debit
$225 credit
$225 debit
On 1 November, Inaya purchases goods on credit. The list price of the goods is $500. She is given a trade discount of $50, and if payment is made within 30 days a cash discount of $20 will be given.
Which amount is credited to the supplier's account on 1 November?
Choose your answer
$430
$450
$480
$500