Can You Pass This Business Accounting Test?

8 Questions | Total Attempts: 283

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Business Accounting Quizzes & Trivia

A few questions about the seventh chapter from the IGCSE Business Studies book: Business Accounting


Questions and Answers
  • 1. 
    What is profit? 
    • A. 

      The surplus after costs have been deducted from sales revenue

    • B. 

      The future benefits of a business

  • 2. 
    Which ones from the ones below is one of the main financial documents? 
    • A. 

      Purchase orders

    • B. 

      Invoice

    • C. 

      Credit notes

    • D. 

      Delivery notes

    • E. 

      Receipts

  • 3. 
    Which is one of the methods of making payment? 
    • A. 

      Cheque

    • B. 

      Profit

    • C. 

      Payment

  • 4. 
    What are accounts? 
    • A. 

      Financial records of a businesses transactions

    • B. 

      Bank accounts

    • C. 

      Businesses

  • 5. 
    What is depreciation? 
    • A. 

      The fall in value of current assets

    • B. 

      The fall in value of fixed assets

    • C. 

      The fall in value of all assets

  • 6. 
    What is profit? 
    • A. 

      The surplus after costs have been deducted from sales revenue

    • B. 

      The future benefits of a business

    • C. 

      Both

  • 7. 
    The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the:
    • A. 

      Balance sheet

    • B. 

      Income statement

    • C. 

      Statement of cash flows

    • D. 

      None of the above

  • 8. 
    Revenues minus expenses equal...
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