Grade 7 EMS Test 2: Accounting Concepts , livre ebook
8
pages
English
Ebooks
2022
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8
pages
English
Ebooks
2022
Obtenez un accès à la bibliothèque pour le consulter en ligne En savoir plus
A test that assesses learners' knowledge of accounting concepts and includes: owner's equity, assets, liabilities, the accounting equation, profit and loss.
Voir
b) trading stock d) income
repair the one oven at a cost of R1 056,00 and had to buy a new mixer to the value of R5 480,00. Salaries of R22 450,00 were paid. The Bakery received
Section A:Multiple Choice - Circle the correct answer:
1. A mortgage bond held by a company, is an example of: a) an expense b) a current liability
Accounting Concepts
3. When people or other companies owe the company money it is called: (1) a) creditors control b) debtors control
c) non-current liability d) current asset 4. The motor vehicles sold by a car dealership, are classified as:
(1)
a) non-current/fixed assets c) current liabilities
5. The motor vehicles used by Pizza Den for deliveries, are classified as: (1) a) non-current/fixed assets b) trading stock
b) a financial asset
R3 500 interest on a fixed deposit. The profit for the period was:a) R32 762 b) R18 582 c) R27 282 d) R23 782
(2)
c) an expense
available (bank overdraft), it is: a) creditors control
(1)
(1)
d) expensescurrent assets d) 7. The computer screens purchased for employees working at First National Bank,
c) current liabilities d) income 6. The computer screens purchased for resale by Incredible Connection, can be
can be classified as: a) capital
d) expensescurrent assets d) 8. If more money is drawn from the business account at the bank than is
b) non-current/fixed assets
b) a non-current liability
EMS: Test
(1)
c) debitors control d) a current liability 9. Bab’s Bakery sold bread to the value of R52 768,00 in February. They had to
(1)
c) a non-current liability d) an asset 2. If the business invests money in a fixed deposit, it is:
a) capital c) a fixed asset
(1)
Grade 7
b) non-current/fixed assets
!1
classified as:a) capital
