Quiz 12

Accounts Payable
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11 MCQs with the right answers
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Q1. 'Accounts Payable A/C' is _____ when invoice is recorded.*

1 mark

debited

credited

not used

balanced

Q2. 'Accounts Payable A/C' is _____ when payment is made to vendors.*

1 mark

credited

debited

not used

balanced

Q3. Accounts payable is also called _____.*

1 mark

trade payables

trade debtors

accounts debtors

trade receivables

Q4. Accounts payable usually have _____ balance.*

1 mark

credit

small

negative

debit

Q5. Purchase ledger control account (PLCA) is _____.*

1 mark

total trade debtors of a firm at a given time

total obligations of a firm at a given time

total trade creditors of a firm at a given time

total receivables of a firm at a given time

Q6. Accounts payable is _____.*

1 mark

short-term obligation

permanent obligation

medium-term obligation

long-term obligation

Q7. Accounts payable are shown on _____.*

1 mark

contract account

profit & loss account

trading account

balance sheet

Q8. Accounts payable are recorded in _____.*

1 mark

purchase order

purchase book

cash book

sales book

Q9. Accounts payable is the amount due to be paid back to the _____.*

1 mark

debtors

lenders

creditors

buyers

Q10. Accounts payable is a _____ liability.*

1 mark

current

long-term

permanent

contingent

Q11. Accounts payable are obligations of a business that arise from _____.*

1 mark

cash sales

credit purchases

credit sales

cash purchases

Quiz 12 – Accounts Payable

Quiz 12

Connect & Improve AccountingOptional

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