Accounting for AQA: Part 1: Chapter 15

Question 1

An accrual of income is an amount due in an accounting period which has not been received at the end of that accounting period.

True

False

Question 2

The adjustment for an accrual of income in the financial statements is to deduct it from the relevant income account before including the amount in the income statement.

True

False

Question 3

A prepayment of income is an amount received after the end of the accounting period to which it relates.

True

False

Question 4

The adjustment for a prepayment of income in the financial statements is to deduct it from the relevant income account before including it in the income statement.

True

False

Question 5

An irrecoverable debt recovered is the situation where a former trade receivable, whose account has been written off as an irrecoverable debt, makes a payment.

True

False

A leading AAT text
book publisher

Always discounted prices

Instant access to eBooks
for AAT Titles

Authored by leading
accountancy tutors

Accounting for AQA: Part 1: Chapter 15

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

Question 1 Introduction

Question 1

An accrual of income is an amount due in an accounting period which has not been received at the end of that accounting period.

Question 2

The adjustment for an accrual of income in the financial statements is to deduct it from the relevant income account before including the amount in the income statement.

Question 3

A prepayment of income is an amount received after the end of the accounting period to which it relates.

Question 4

The adjustment for a prepayment of income in the financial statements is to deduct it from the relevant income account before including it in the income statement.

Question 5

An irrecoverable debt recovered is the situation where a former trade receivable, whose account has been written off as an irrecoverable debt, makes a payment.

AAT Q2022 Books

Accounting for AQA: Part 1: Chapter 15

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

Question 1 Introduction

Question 1

An accrual of income is an amount due in an accounting period which has not been received at the end of that accounting period.

Question 2

The adjustment for an accrual of income in the financial statements is to deduct it from the relevant income account before including the amount in the income statement.

Question 3

A prepayment of income is an amount received after the end of the accounting period to which it relates.

Question 4

The adjustment for a prepayment of income in the financial statements is to deduct it from the relevant income account before including it in the income statement.

Question 5

An irrecoverable debt recovered is the situation where a former trade receivable, whose account has been written off as an irrecoverable debt, makes a payment.