EMS Grade 8 Question Preview (ID: 42565)
EMS.
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Which Journal will be used for the borrowed cash from the bank CR or CP
a) CR
b) CP
c) None
d) -
Which Journal will be used for Sold merchandise for cash CR or CP
a) CP
b) CR
c) -
d) -
Which Journal will be used for paid rent expense CR or CP
a) CR
b) CP
c) -
d) -
Which Journal will be used for paid an account payable CR or CP
a) CR
b) CP
c) -
d) -
Which Journal will be used for sold common stock for cash CR or CP
a) CP
b) CR
c) -
d) -
Which Journal will be used for collected an account receivable CR or CP
a) CR
b) CP
c) -
d) -
Definition of receipt Sole properiter
a) Exclusive owner of business
b) Various owners
c) Run by a number of family members
d) Various shareholders
Definition of dividends
a) Profit
b) Loss
c) Sum of money paid to shareholders
d) Trading
Definition of Budget
a) Loss
b) An estimate of income and expenditure
c) Your daily expenes
d) None
Definition of VAT
a) Value added Tax
b) Sin tax
c) special tax
d) fees
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