Accounting Cycle MCQ Quiz!

8 Questions | Total Attempts: 48

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Accounting Cycle MCQ Quiz!

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Questions and Answers
  • 1. 
    In the Purchase Order, who is authorized to sign off this document?
  • 2. 
    In the Goods Received Note, _______________  will sign off under "Posted by".
  • 3. 
    The Payment Voucher is sometimes approved by the accounts clerk.
    • A. 

      True

    • B. 

      False

  • 4. 
    Only the authorized signatories of the company are allowed to sign cheques. 
    • A. 

      True

    • B. 

      False

  • 5. 
    Similar stock items can be entered into the same stock card.
    • A. 

      True

    • B. 

      False

  • 6. 
    When writing a cheque for "Singapore dollars two thousand and three hundred only", the amount in figures should be written as ______
    • A. 

      $2,300.00

    • B. 

      S$2,300

    • C. 

      S$2,300.00

    • D. 

      $2,300

  • 7. 
    The sales invoice must be signed off by:
    • A. 

      Marketing Executive

    • B. 

      Purchasing Manager

    • C. 

      Sales & Marketing Manager

    • D. 

      Finance Manager

  • 8. 
    The authorized signatory for the Official Receipt is the Accountant. 
    • A. 

      True

    • B. 

      False

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