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The student is shown two radio choices: \"Yes\" and \"No\". One of them is correct.

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Here are some of the financial transactions for a toy business over a period of 2 weeks.

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
1 JuneBuys an office building for £{a}
6 JunePays an electricity bill of £{b}
8 JuneInvests £{c} capital into the business
9 JuneBuys £{d} of supplies on credit from Woodcraft business
10 JuneReceives £{e2} from High Street shop, Fainwell's for toy order
13 JuneOliver's retail outlet buys £{f} on credit from the business 
14 JunePays £{g} in wages
15 JunePays £{h} for office supplies
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On 1 June, £{a} is paid into the bank account

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On 1 June £{a} is paid into which of the following accounts?

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On 1 June the bank account looks like this?

\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Bank
1 JuneOffice building£{a}
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On 1 June the office building account looks like this?

\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Office building
1 JuneOffice building£{a}
\n

                         

\n

\n

                   

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The transaction on 6 June affects 2 accounts?

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Which accounts are affected on 6 June?

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On 8 June some money is transferred to the bank account?

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What does buying 'on credit' mean?

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On 9 June which 2 accounts are affected?

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On 9 June the purchases account looks like this?

\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Purchases
9 JuneWoodcraft£{d}
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On 9 June the Woodcraft (creditor) account looks like this?

\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Woodcraft
9 JunePurchases£{d}
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There is at least one mistake in the accounts on 10 June. 

\n

Check the accounts below and then select from the list

\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Bank
10 JuneFainwell£{e2}
\n

\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Fainwell
1 JuneBank£{b}
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On 13 June, the transaction will be recorded on the left hand side of the sales account?

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On 14 and 15 June, money will come out of the bank?

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