Company General Ledger Accounts (Grade 12 NSC Matric Accounting): Quizzes
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Practise the questions
10 questions from this quiz
What does the Ordinary Share Capital account record?
What does the Ordinary Share Capital account record?
The value of shares issued by the company
How is the SARS (Income Tax) account classified when provisional tax has been overpaid?
How is the SARS (Income Tax) account classified when provisional tax has been overpaid?
As an asset on the balance sheet
Which account shows amounts still owed to shareholders as a current liability?
Which account shows amounts still owed to shareholders as a current liability?
Shareholders for Dividends
What is the primary purpose of the Appropriation Account?
What is the primary purpose of the Appropriation Account?
To distribute the company's profit
If share capital is R1,375,000 and 550,000 shares issued, what is the average price per share?
If share capital is R1,375,000 and 550,000 shares issued, what is the average price per share?
R2.50
When is the first provisional tax payment made to SARS during the financial year?
When is the first provisional tax payment made to SARS during the financial year?
Halfway through the year (6 months)
What is the key difference between interim and final dividends?
What is the key difference between interim and final dividends?
Interim paid during year; final at end
What liability is created when final dividends are declared but not yet paid?
What liability is created when final dividends are declared but not yet paid?
Shareholders for Dividends
What is the effect when a company buys back its own shares from shareholders?
What is the effect when a company buys back its own shares from shareholders?
Reduces shares in circulation
How are nominal accounts classified in company financial statements?
How are nominal accounts classified in company financial statements?
Temporary accounts closed each period