Which of the following would be on the debit side of the payables ledger control account?

(1) Cash paid

(2) Purchases
(3) Discounts allowed
(4) Discounts received

Both plans will allow doctor visits and preventive care before your
deductible comes into effect. A dental plan is also available. The monthly
premium for that is $17.75. I will be happy to meet and go ______ the
options and the benefits, or mail a packet out to you.

along

by

past

over

The trade receivables control account balance is $1,000 and the total of
the individual trade receivables balances is $850. Which of the following
errors could account for this difference?

A receipt from a credit customer $150 was recorded twice in the receivables ledger
and control account

A receipt from a credit customer $150 was recorded twice in the control account

A receipt from a credit customer $150 was not recorded at all in the control account

A receipt from a credit customer $150 was not recorded at all in the receivables
ledger

If an assembly line supervisor is paid a salary of $100 each week, and an

extra 10c for every unit of production made in the week, this wage cost
could be described as:

A variable cost

A step cost
A fixed cost

A semi-variable cost

A debit entry into a ledger account represents which of the following?

Decrease in an asset

Decrease in an expense

Decrease in income

Decrease in drawings

Joe purchases goods on credit worth $3,500. On $2,000 worth he gets

trade discount of 20%, no trade discount is available on the rest.
However, Joe always makes sure that he pays within 10 days in order to
obtain Eddie's settlement discount of 5%.
How much will Joe pay Eddie if he pays within 10 days?

$2,800

$2,495

$2,945

$3,025

An item of capital expenditure was incorrectly treated as revenue

expenditure. What effect did this have on the accounts?

Expenses were understated and non-current assets overstated

Expenses were understated and non-current assets understated

Expenses were understated and non-current assets understated

Expenses were overstated and non-current assets overstated

Which of the following are indirect expenses?
(i) The cost of overtime worked specifically to complete a one-off project
(ii) The depreciation of a machine on an assembly line
(iii) Primary packing materials eg cartons and boxes
(iv) The hire of maintenance tools or equipment for a factory

(iv) only

(ii) and (iv)

(i) and (iv)

(i) and (iii)

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