1.
When T Ltd makes out a cheque for £200 and sends it to X Ltd , then T Ltd is known as:
A. 
B. 
C. 
D. 
2.
To make sure cheques are safe when sending them by post, in case they are lost or stolen, you should
A. 
B. 
Cross your cheques 'Account payee only, not negotiable'
C. 
D. 
3.
£100 taken from the cash till and banked is shown in the cash books as:
Debit cash column £100
Credit bank column £100
4.
It is possible to have a credit balance of £100 in the cash column of the cash book
5.
The sales ledger column total from cash book is debited to sales ledger control account in the general ledger
6.
The discount allowed column total from the cash book is debited to the discount allowed account in the general ledger
7.
The VAT column on the receipts side of the cash book is credited to the VAT account in the general ledger
8.
Bank Reconciliation Statement;
Balance at bank as per adjusted cash book £274
(i) Cheques not yet presented £730
(ii) Cheques deposited not yet recorded by bank £477
Balance at bank as per bank statement:
A. 
B. 
C. 
D. 
9.
When drawing up a Bank Reconcilaition Statement, if you start with a debit balance as per the Bank statement, the unpresented cheques should be:
A. 
Not required to be adjusted
B. 
C. 
D. 
10.
A Bank Reconciliation Statement is:
A. 
B. 
A statement showing the causes of differences between the balance of cash book and bank statement.
C. 
A part of financial statement
D. 
11.
Credit balance as per bank statement on 31.3.2013 is £22000.
Cheques deposited but not cleared amount to £2000.
Cheques issued but not presented of £8000.
Balance as per cash book should be:
A. 
B. 
C. 
D. 
12.
When money is withdrawn from the bank, the bank_________ the account of the customer.
A. 
B. 
C. 
D. 
13.
Most petty cash books operate using the imprest system. This means that the petty cash box must be kept in a secure place.
14.
Which of the following expenses would you allow to be paid out of petty cash?
A. 
Gift to director retiring £500
B. 
Donation to local charity £300
C. 
D. 
E. 
Purchase of a printer £176
15.
A firm's figures are given below.
Opening Debtors: £10,200
Cash Received from debtors during the year: £30,400
Returns inwards:£2,700
Bad debts:£1,200
Debtors at end of year:£13,800
Cash Sales:£28,400
Total Sales will be?
A. 
B. 
C. 
D. 
16.
A firm's figures are shown below.
Cash Sales £50,000
Cash Collected from debtors £130,000
Bad Debts during the year £5,000
Debtors at the beginning £10,000
Total sales will be:
A. 
B. 
C. 
D. 
17.
Accounts payable has ______________ balance
A. 
B. 
C. 
D. 
18.
Total sales during the first year of business amounted to £70,000.
Cash sales during the year amounted £10,000.
Outstanding debtors at the end of the year £25,000.
Cash received from debtors during the year will be:
A. 
B. 
C. 
D.