Check Your Understanding Quiz - Chapter AP3

School: Central Academy - Course: SCIENCE ??? - Subject: Accounting

StateFinished Completed onWednesday, 23 February 2022, 1:55 PM Time taken4 mins 43 secs Marks5.00/5.00 Grade10.00out of 10.00 (100.00%) FeedbackWell done - you can attempt the following related Chapter Quiz. The Chapter Quiz does count toward overall assessment for this unit so tak Question 1 Correct Mark 1.00 out of 1.00 Flag question Question text Good internal controls for the handling of cash include: Select one: a. giving the money to the manager to store b. recording the address of the payer c. prompt banking of all cash received Correct d. placing the cash is a well-known location Question 2 Correct Mark 1.00 out of 1.00 Flag question Question text Which of the following is not a valid form of receipt evidence? Select one: a. Cash register receipt b. Receipt Book page c. Thanking the customer for their payment Correct

d. Computerised numbered transaction Question 3 Correct Mark 1.00 out of 1.00 Flag question Question text The stamped deposit slip provided by the bank teller: Select one: a. provides a list of all amounts withdrawn from the business bank account b. is likely to be different from the amount recorded in your Cash Receipts Book c. is not necessary as you have already have recorded the details in your receipts books d. is the proof of lodgement that the money has been banked Correct Question 4 Correct Mark 1.00 out of 1.00 Flag question Question text When you record receipts in the Cash Receipts Book, in the Amount Banked column you: Select one: a. record the total of the receipts that you are taking to the bank Correct b. wait until the end of the month and total the receipts in that column c. record every receipt d. record the total of the receipts less any GST for that day Question 5 Correct Mark 1.00 out of 1.00 Flag question Question text

The GST applicable to a $330 invoice that is inclusive of GST is: Select one: a. $3.30 b. $33.00 c. $30.00 Correct d. $300.00