Accounting for AQA: Part 2: Chapter 2

Question 1

Incomplete records is where the bookkeeping system uses double-entry principles and a trial balance is available.

True

False

Question 2

The accounting equation is assets + liabilities = capital.

True

False

Question 3

An increase in capital during the year could indicate that a profit has been made.

True

False

Question 4

Purchases for the year = payments to trade payables in year, less trade payables at the beginning of the year, plus trade payables at the end of the year.

True

False

Question 5

A statement of affairs can be used to calculate capital at the start of the year.

True

False

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Accounting for AQA: Part 2: Chapter 2

Page 1 of 2 - There are 10 questions in total.

Question 1 Introduction

Question 1

Incomplete records is where the bookkeeping system uses double-entry principles and a trial balance is available.

Question 2

The accounting equation is assets + liabilities = capital.

Question 3

An increase in capital during the year could indicate that a profit has been made.

Question 4

Purchases for the year = payments to trade payables in year, less trade payables at the beginning of the year, plus trade payables at the end of the year.

Question 5

A statement of affairs can be used to calculate capital at the start of the year.

AAT Q2022 Books

Accounting for AQA: Part 2: Chapter 2

Page 1 of 2 - There are 10 questions in total.

Question 1 Introduction

Question 1

Incomplete records is where the bookkeeping system uses double-entry principles and a trial balance is available.

Question 2

The accounting equation is assets + liabilities = capital.

Question 3

An increase in capital during the year could indicate that a profit has been made.

Question 4

Purchases for the year = payments to trade payables in year, less trade payables at the beginning of the year, plus trade payables at the end of the year.

Question 5

A statement of affairs can be used to calculate capital at the start of the year.