Can You Pass This Business Accounting Test?
8 Questions
| Attempts: 336
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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