Quiz-Busters - AS Accounting Module 1

AS Accounting Module 1

An accounting quiz for As students in their first term. Mostly basic terms from the P&L and Balance sheet plus a few other key terms
What W is current assets minus current liabilities?. In which T does carriage inwards appear in the final accounts?. What E does carriage outwards form a part of on the P&L?. What D is added to the trading profit before deducting expenses. What C is assets minus liabilities?. What N is sometimes called the bottom line?. What G is the difference between sales and cost of goods sold?. What F is a group of things which a business intends to keep?. What C is made up of stock, debtors, bank and cash balances?. What R is the process of agreeing the cash book and the bank statement?. What I is restored in the petty cash book?. What S is the place to record credit sales?. What P must be completed before a small amount of money can be reclaimed by an employee?. What V is a tax collected by businesses for government?. What S is an advantage of using computers for accounting?. What D makes it necessary to do everything twice?. What A is a concept that explains why capital expenditure is not on the P&L?. What R is a type of expenditure to be found on the P&L?. What T is given to other businesses to encourage them to buy more?. What V is completed and sent to HM Customs & Revenue?.