The two categories of expenditure we looked at were...

capital expenditure & revenue expenditure

one of the reasons to monitor stock levels is...

to monitor for theft/deterioration of products & take action

which one is not a purpose of accounting?

Helps employees defraud the company

which three are types of business transactions?

purchase order, invoice, credit note

an example of revenue income is...

income from selling goods & services over a period of time

The two categories of income we looked at were...

revenue income & capital income

money invested by the owner to set up business/buy equipment

Revenue expenditure is....

money spent by the business on day to day items such as rent

an example of capital expenditure is...

buying a fixed asset such as new machinery

Two reasons to monitor invoices from suppliers are...

to make sure the invoice is for you, to make sure there are no errors

why would a company check the credit worthiness of potential customers?

To see if they have the ability to pay bills

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Capital & revenue expenditure - with a bit extra!!

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recap of last week

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Questions 15

Answers

1
The two categories of expenditure we looked at were...
capital expenditure & revenue expenditure
capital income & revenue income
capital expenditure & sales revenue
did we look at expenditure?
2
one of the reasons to monitor stock levels is...
it keeps the night shift busy
it produces paperwork for administrators to file
to monitor for theft/deterioration of products & take action
3
which one is not a purpose of accounting?
Monitor activity of the business
Helps control/manage the business
Record business transactions
Helps employees defraud the company
4
which three are types of business transactions?
purchase order
invoice
personal transaction online
credit note
5
the purchase of a new suite of vehicles for a haulage company is classed as...
capital expenditure
revenue expenditure
revenue income
capital income
6
What is the name of the module we are studying at the moment?
Business Accounting
Financial Accounting
Principles of Marketing
Management Accounting
7
an example of revenue income is...
spending money on producing goods & services
income from selling goods & services over a period of time
I have no idea
8
The two categories of income we looked at were...
sales income & sales revenue
revenue expenditure & capital expenditure
revenue income & capital income
9
capital income is...
generated by selling goods & services
money spent on buying fixed assets
money invested by the owner to set up business/buy equipment
10
Revenue expenditure is....
money received from renting out buildings
sales revenue from selling goods and services
money spent by the business on day to day items such as rent
money spent on items such as fixed assets
11
How many categories of expenditure did we look at?
2
4
3
1
12
an example of capital expenditure is...
buying current assets such as stock
buying components to make products to sell
buying a fixed asset such as new machinery
income received from renting out assets such as buildings
13
Two reasons to monitor invoices from suppliers are...
keeps you awake at work
to make sure the invoice is for you
it creates a job for someone
to make sure there are no errors
14
why would a company check the credit worthiness of potential customers?
Because they can & to be nosy
To see if they have the ability to pay bills
It keeps someone in a job
15
How many categories of income did we look at?
4
2
3
no idea

Capital & revenue expenditure - with a bit extra!! Flashcards | StudBud