Source Document – NBC Institute

TAX – Nov 2020 – L1 – SA – Q1 – Introduction to Taxation

Objective questions testing basic financial accounting principles.

Question

Which of the following items is NOT found on the debit column of a trial balance?
A. Capital
B. Motor vehicle
C. Rent and rates
D. Salaries and wages
E. Postage and stationary

Answer

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Tags: Accounting Conventions, Control Account, Financial Statements, Income Statement, Inventory, Partnership, Source Document, Trial Balance
Level: Level 1

Topic: Introduction to Taxation
Series: NOV 2020

FA – May 2018 – L1 – SA – Q20 – Recording Financial Transactions

Identifies the source document used to record transactions in the sales day book.

Question

The source of data for the recording of sales day book of a business enterprise is:
A. Returns inward note
B. Returns outward note
C. Official receipt
D. Payment voucher
E. Invoice

Answer

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Tags: Sales Day Book, Source Document, Transactions

FA – Mar/July 2020 – L1 – SA – Q11 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Identifying the correct document issued for returned goods

Question

Mefor returned defective goods to the supplier, Ahmed. Which of the following source documents will Ahmed issue to Mefor?
A. Invoice
B. Debit note
C. Delivery note
D. Statement of account
E. Credit note

Answer

Find Related Questions by Tags, levels, etc.

Tags: Credit Note, Goods Return, Source Document
Level: Level 1

TAX – Nov 2020 – L1 – SA – Q1 – Introduction to Taxation

Objective questions testing basic financial accounting principles.

Question

Which of the following items is NOT found on the debit column of a trial balance?
A. Capital
B. Motor vehicle
C. Rent and rates
D. Salaries and wages
E. Postage and stationary

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accounting Conventions, Control Account, Financial Statements, Income Statement, Inventory, Partnership, Source Document, Trial Balance
Level: Level 1

Topic: Introduction to Taxation
Series: NOV 2020

FA – May 2018 – L1 – SA – Q20 – Recording Financial Transactions

Identifies the source document used to record transactions in the sales day book.

Question

The source of data for the recording of sales day book of a business enterprise is:
A. Returns inward note
B. Returns outward note
C. Official receipt
D. Payment voucher
E. Invoice

Answer

Find Related Questions by Tags, levels, etc.

Tags: Sales Day Book, Source Document, Transactions

FA – Mar/July 2020 – L1 – SA – Q11 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Identifying the correct document issued for returned goods

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Credit Note, Goods Return, Source Document
Level: Level 1

Question Tag: Source Document

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TAX – Nov 2020 – L1 – SA – Q1 – Introduction to Taxation

Objective questions testing basic financial accounting principles.

FA – May 2018 – L1 – SA – Q20 – Recording Financial Transactions

Identifies the source document used to record transactions in the sales day book.

FA – Mar/July 2020 – L1 – SA – Q11 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Identifying the correct document issued for returned goods

TAX – Nov 2020 – L1 – SA – Q1 – Introduction to Taxation

Objective questions testing basic financial accounting principles.

FA – May 2018 – L1 – SA – Q20 – Recording Financial Transactions

Identifies the source document used to record transactions in the sales day book.

FA – Mar/July 2020 – L1 – SA – Q11 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Identifying the correct document issued for returned goods

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TAX – Nov 2020 – L1 – SA – Q1 – Introduction to Taxation

Objective questions testing basic financial accounting principles.

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FA – May 2018 – L1 – SA – Q20 – Recording Financial Transactions

Identifies the source document used to record transactions in the sales day book.

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FA – Mar/July 2020 – L1 – SA – Q11 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Identifying the correct document issued for returned goods

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TAX – Nov 2020 – L1 – SA – Q1 – Introduction to Taxation

Objective questions testing basic financial accounting principles.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q1 – Introduction to Taxation"

FA – May 2018 – L1 – SA – Q20 – Recording Financial Transactions

Identifies the source document used to record transactions in the sales day book.

You're reporting an error for "FA – May 2018 – L1 – SA – Q20 – Recording Financial Transactions"

FA – Mar/July 2020 – L1 – SA – Q11 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Identifying the correct document issued for returned goods

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