Other questions in this quiz

2. State a purpose of accouting (do 2 more if you can)

  • To employ more people to make the business bigger
  • To asses a business
  • To make money
  • To add numbers

3. If I purchase something via cash or credit, who have I bought off?

  • Trade Receivables
  • A person
  • Trade Payables
  • Customers

4. What are the two basic accounting concepts which apply to all business accounts?

  • Business entity and Money measurement
  • Time and patience
  • Purchase and Sales
  • Profit and loss

5. If I had cash and credit sales, who do I sell these to?

  • Trade Receivables
  • Supplier
  • Trade Payables
  • People


No comments have yet been made

Similar Accounting resources:

See all Accounting resources »See all Unit 1 Chapter 1 resources »