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BTEC Business (L3) Unit 10 Accounting Quiz Flashcards | StudBud
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BTEC Business (L3) Unit 10 Accounting Quiz
BTEC Business (L3) Unit 10 Accounting Quiz
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#Capital#Revenue
Flashcards
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Questions
13
Answers
1
In terms of ESG, which one is not an example of environmental malpractice?
Pollution
Bio-diversity
Deforestation
Human rights breaches
2
Which one of the following is an example of CAPITAL expenditure for a bus company?
Payment of wages
Purchase of a new bus.
Fuel expenses
Cleaning graffiti off a bus window.
3
Fixed assets + current assets - current liabilities - long-term liabilities equals ....
Net gain
Net ball
Net wealth
Net assets
4
What are the main purposes of accounting?
To minimise company tax bills
Providing information for the government.
To help the business make lots of money
Recording, measuring, monitoring, and reporting financial data.
5
Which one of the following measures how well a business buys and sells stock?
Return on capital employed
Gross profit margin
Net profit margin
Current ratio
6
In law, financial accounts must show
"all the calculations"
"all the shareholders' details"
"every business transaction"
"a true and fair view"
7
Which one of the following is not a source document?
Bank statement
Credit note
Purchase order
Credit card
8
Which one is not an example of financial malpractice?
Channelling dirty money
Fraud
Insider dealing
Charging high interest rates
9
Which one of these is a long-term liability?
Money owed to a supplier
A five-year bank loan
Illegal worn tyres.
Money owed by a debtor
10
What is an owner's investment in a business called?
Capital
Shares
Loans
Money
11
Which one of the following is not a tangible asset?
Intellectual Property
Oil
Gold
Artwork
12
What organisation regulates the finance industry in the UK?
The Government
Bank of England
Ofcom
The Financial Conduct Authority
13
Cash sales of £200 are made by a business. The double entries are as follows:
Dr Who, Cr Isps
Cr Cash, Dr Sales
Dr Cash, Cr Sales
Dr Bank, Cr Sales
