Quiz-Busters - Accounting AS Module 1

Accounting AS Module 1

This is intended for AS Accounting students towards the end of their first module. Much of it could be done by business studies students after the finance topics.
What F are listed first on a balance sheet?. What C is made up of stock, debtors, cash and bank balances?. What W is the difference between current assets and current liabilities?. What D is added to the gross profit before deducting expenses?. What D is given to customers for fast payment?. What C is the difference between assets and liabilities?. What S is an advantage of computerised accounts?. What R is the process of agreeing the bank statement and the cash book?. What A is the concept that matches expenditure with the revenues earned by that expenditure?. What V is a tax collected by business for the government?. What G is the difference between the value of sales and the cost of the goods sold?. What N is sometimes called the bottom line by Americans?. What C is opening stock plus purchases minus closing stock?. What R is a type of expenditure seen on the P&L?. What C is a type of expenditure never seen on a P&L?. What I is restored in the petty cash book?. What S is used to record the credit sales?. What N is the place for expense accounts?. What P is used to record small items of cash expenditure?. What T is given to customers who buy often or in large quantities?.