Steps in Accounting (Junior Cert Business Studies): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
How many main account types are in the accounting process?
How many main account types are in the accounting process?
Four
What is the correct sequence of the accounting process?
What is the correct sequence of the accounting process?
First entry → Ledgers → Trial → Final
What are books of first entry?
What are books of first entry?
Records where transactions are first recorded
Which of these is an example of a source document?
Which of these is an example of a source document?
Sales invoice
What does the analysed cash book (ACB) record?
What does the analysed cash book (ACB) record?
All cash receipts and payments
What are ledgers?
What are ledgers?
Books where totals are organised by type
Which categories does the general ledger organise information into?
Which categories does the general ledger organise information into?
Assets, liabilities, income, expenses
Where does the general ledger receive transferred balances from?
Where does the general ledger receive transferred balances from?
The analysed cash book
What is a trial balance?
What is a trial balance?
A list of balances from ACB and GL
When must the trial balance be completed?
When must the trial balance be completed?
Before preparing final accounts
How many types of final accounts are there?
How many types of final accounts are there?
Three
When are final accounts prepared?
When are final accounts prepared?
At the end of the financial year