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EMS Grade 8
Test Description: EMS
Instructions: Answer all questions to get your test result.
1) Which Journal will be used for the borrowed cash from the bank CR or CP
A
CP
B
-
C
CR
D
None
2) Which Journal will be used for Sold merchandise for cash CR or CP
A
CP
B
-
C
-
D
CR
3) Which Journal will be used for paid rent expense CR or CP
A
-
B
CP
C
CR
D
-
4) Which Journal will be used for paid an account payable CR or CP
A
CR
B
-
C
CP
D
-
5) Which Journal will be used for sold common stock for cash CR or CP
A
-
B
CR
C
-
D
CP
6) Which Journal will be used for collected an account receivable CR or CP
A
CP
B
-
C
CR
D
-
7) Definition of receipt Sole properiter
A
Various owners
B
Run by a number of family members
C
Various shareholders
D
Exclusive owner of business
8) Definition of dividends
A
Profit
B
Loss
C
Trading
D
Sum of money paid to shareholders
9) Definition of Budget
A
Your daily expenes
B
An estimate of income and expenditure
C
Loss
D
None
10) Definition of VAT
A
Value added Tax
B
special tax
C
Sin tax
D
fees
*select an answer for all questions
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