The 3rd quiz in Management accounting (Model 1) (Group B Acc. and Fin.

)
Choose the best choice for each of the following statements:
For preparing the collection budget for the fourth quarter of 2021 you know: All sales are on credit. Credit sales
are collected based on 60% in the next month and 40% in the following month. Accounts receivable balance on
October 1, 2021 is LE 420 (included LE 120 form August 2021 sales, and LE 300 from September 2021 sales).
Expected sales in October, November, and December are LE 250, LE 150, and LE 300 respectively.
1. Collection of September credit sales in October 2021 is (in LE)
a.150 b. 300 c. 120 d. 180
2. Collection of September credit sales in November 2021 is (in LE)
a.150 b. 300 c. 120 d. 180
3. Collection of August credit sales in October 2021 is (in LE)
a.120 b. 300 c. 150 d. 180
4. The expected collection of sales in October 2021 is (in LE)
a.190 b. 270 c. 300 d. 360
5. The expected collection of sales in November 2021 is (in LE)
a.190 b. 270 c. 300 d. 360
6. The expected accounts receivable balance at the end of December 2021 is (in LE)
a.190 b. 270 c. 260 d. 360
Choose the best choice for each of the following statements:
Total expected sales for overall the fourth quarter 2021 is LE 1000, this amount is allocated among October,
November, and December based on 4:3:3 respectively. Monthly gross profit is 60% of monthly sales. Monthly
ending inventory is 25% of the same month cost goods sold plus LE 20. Cost of ending inventory in September
2021 is LE 50.
7. Purchases in November 2021 is (in LE)
a.170 b. 110 c. 120 d. 400
8. ending inventory in October 2021 is (in LE)
a.70 b. 50 c. 60 d. None of these
9. beginning inventory the fourth quarter 2021 is (in LE)
a.70 b. 50 c. 60 d. None of these
10. total purchases for the fourth quarter 2021 is (in LE)
a.400 b. 110 c. 410 d. 390
Choose the best choice for each of the following statements:
"THE CHOICE" firm started its activities on July 1st 2021, it provided Accountant with necessary information
to compute payments in the third quarter of 2021:
 Expected purchases are LE 50 000 in July, LE 80 000 in August, and LE 100 000 in September.
 All purchases are collected as follow: 40% in the same month and 60% in the next month.
11. July payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
12. August payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
13. September payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
st
14. Accounts payable balance on October 1 2021 is (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
Choose the best choice for each of the following statements:
Beginning cash balance on Oct.1st 2021 is LE 10 000. Total collections and payments are
October November December
Total collections LE 42 000 LE 30 000 LE 31 150
Total payments LE 45 000 LE 37 000 LE 24 000
Monthly minimum cash is LE 10 000. Money can be borrowed and repaid as promptly as possible (multiples of
LE 4 000). Annual interest rate is 18%. Interest is paid only at time of repaying - in full or in part – principals of
loans. The related interest charges are to be paid regardless of the multiples of LE 4 000. Then
15. Total available cash in October 2021 is (in LE)
a. 43 150 b. 52 000 c. 41 000 d. None of these
16. The loan that firm will get in October 2021 is (in LE)
a. 3 000 b. 4 000 c. 8 000 d. 12 000
17. The beginning balance in November 2021 is (in LE)
a. 9 850 b. 10 000 c. 12 000 d. 11 000
18. Cash excess or deficit in November 2021 is (in LE)
a. (6 000) b. (5 000) c. (8 000) d. (4 000)
19. The loan that firm will get in November 2021 is (in LE)
a. 3 000 b. 4 000 c. 8 000 d. 12 000
20. The repaid interest in December 2021 for October loan is (in LE)
a. 150 b. 180 c. 120 d. 300
21. The total repaid interest in December 2021 is (in LE)
a. 150 b. 180 c. 120 d. 300
22. The beginning balance for the fourth quarter 2021 is (in LE)
a. 3 000 b. 5 000 c. 10 000 d. 12 000
23. The total cash excess for the fourth quarter 2021 is (in LE)
a. 3 150 b. 8 150 c. 1 150 d. (2 850)
24. The ending balance at the end of December 2021 is (in LE)
a. 10 850 b. 10 000 c. 12 000 d. 11 000
25. The residual balance of loans at the end of December 2021 is (in LE)
a. 2 000 b. 4 000 c. 12 000 d. 11 000
Student Name: ID:
Answers
1 A B C D 8 A B C D 15 A B C D 22 A B C D

2 A B C D 9 A B C D 16 A B C D 23 A B C D

3 A B C D 10 A B C D 17 A B C D 24 A B C D

4 A B C D 11 A B C D 18 A B C D 25 A B C D

5 A B C D 12 A B C D 19 A B C D

6 A B C D 13 A B C D 20 A B C D

7 A B C D 14 A B C D 21 A B C D
 The 3rd quiz in Management accounting (Model 2) (Group B Acc. and Fin.)
Choose the best choice for each of the following statements:
Total expected sales for overall the fourth quarter 2021 is LE 1000, this amount is allocated among October,
November, and December based on 4:3:3 respectively. Monthly gross profit is 60% of monthly sales. Monthly
ending inventory is 25% of the same month cost goods sold plus LE 20. Cost of ending inventory in September
2021 is LE 50.
1. Purchases in November 2021 is (in LE)
a.170 b. 110 c. 120 d. 400
2. ending inventory in October 2021 is (in LE)
a.70 b. 50 c. 60 d. None of these
3. beginning inventory the fourth quarter 2021 is (in LE)
a.70 b. 50 c. 60 d. None of these
4. total purchases for the fourth quarter 2021 is (in LE)
a.400 b. 110 c. 410 d. 390
Choose the best choice for each of the following statements:
"THE CHOICE" firm started its activities on July 1st 2021, it provided Accountant with necessary information
to compute payments in the third quarter of 2021:
 Expected purchases are LE 50 000 in July, LE 80 000 in August, and LE 100 000 in September.
 All purchases are collected as follow: 40% in the same month and 60% in the next month.
5. July payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
6. August payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
7. September payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
st
8. Accounts payable balance on October 1 2021 is (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
Choose the best choice for each of the following statements:
Beginning cash balance on Oct.1st 2021 is LE 10 000. Total collections and payments are
October November December
Total collections LE 42 000 LE 30 000 LE 31 150
Total payments LE 45 000 LE 37 000 LE 24 000
Monthly minimum cash is LE 10 000. Money can be borrowed and repaid as promptly as possible (multiples of
LE 4 000). Annual interest rate is 18%. Interest is paid only at time of repaying - in full or in part – principals of
loans. The related interest charges are to be paid regardless of the multiples of LE 4 000. Then
9. Total available cash in October 2021 is (in LE)
a. 43 150 b. 52 000 c. 41 000 d. None of these
10. The loan that firm will get in October 2021 is (in LE)
a. 3 000 b. 4 000 c. 8 000 d. 12 000
11. The beginning balance in November 2021 is (in LE)
a. 9 850 b. 10 000 c. 12 000 d. 11 000
12. Cash excess or deficit in November 2021 is (in LE)
a. (6 000) b. (5 000) c. (8 000) d. (4 000)
13. The loan that firm will get in November 2021 is (in LE)
a. 3 000 b. 4 000 c. 8 000 d. 12 000
14. The repaid interest in December 2021 for October loan is (in LE)
a. 150 b. 180 c. 120 d. 300
15. The total repaid interest in December 2021 is (in LE)
 a. 150 b. 180 c. 120 d. 300
16. The beginning balance for the fourth quarter 2021 is (in LE)
a. 3 000 b. 5 000 c. 10 000 d. 12 000
17. The total cash excess for the fourth quarter 2021 is (in LE)
a. 3 150 b. 8 150 c. 1 150 d. (2 850)
18. The ending balance at the end of December 2021 is (in LE)
a. 10 850 b. 10 000 c. 12 000 d. 11 000
19. The residual balance of loans at the end of December 2021 is (in LE)
a. 2 000 b. 4 000 c. 12 000 d. 11 000
Choose the best choice for each of the following statements:
For preparing the collection budget for the fourth quarter of 2021 you know: All sales are on credit. Credit sales
are collected based on 60% in the next month and 40% in the following month. Accounts receivable balance on
October 1, 2021 is LE 420 (included LE 120 form August 2021 sales, and LE 300 from September 2021 sales).
Expected sales in October, November, and December are LE 250, LE 150, and LE 300 respectively.
20. Collection of September credit sales in October 2021 is (in LE)
a.150 b. 300 c. 120 d. 180
21. Collection of September credit sales in November 2021 is (in LE)
a.150 b. 300 c. 120 d. 180
22. Collection of August credit sales in October 2021 is (in LE)
a.120 b. 300 c. 150 d. 180
23. The expected collection of sales in October 2021 is (in LE)
a.190 b. 270 c. 300 d. 360
24. The expected collection of sales in November 2021 is (in LE)
a.190 b. 270 c. 300 d. 360
25. The expected accounts receivable balance at the end of December 2021 is (in LE)
a.190 b. 270 c. 260 d. 360
Student Name: ID:
Answers
1 A B C D 8 A B C D 15 A B C D 22 A B C D

2 A B C D 9 A B C D 16 A B C D 23 A B C D

3 A B C D 10 A B C D 17 A B C D 24 A B C D

4 A B C D 11 A B C D 18 A B C D 25 A B C D

5 A B C D 12 A B C D 19 A B C D

6 A B C D 13 A B C D 20 A B C D

7 A B C D 14 A B C D 21 A B C D
 The 3rd quiz in Management accounting (Model 3) (Group B Acc. and Fin.)
Choose the best choice for each of the following statements:
"THE CHOICE" firm started its activities on July 1st 2021, it provided Accountant with necessary information
to compute payments in the third quarter of 2021:
 Expected purchases are LE 50 000 in July, LE 80 000 in August, and LE 100 000 in September.
 All purchases are collected as follow: 40% in the same month and 60% in the next month.
1. July payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
2. August payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
3. September payments are (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
st
4. Accounts payable balance on October 1 2021 is (in LE):
a) 62 000 b) 88 000 c) 60 000 d) 20 000
Choose the best choice for each of the following statements:
Beginning cash balance on Oct.1st 2021 is LE 10 000. Total collections and payments are
October November December
Total collections LE 42 000 LE 30 000 LE 31 150
Total payments LE 45 000 LE 37 000 LE 24 000
Monthly minimum cash is LE 10 000. Money can be borrowed and repaid as promptly as possible (multiples of
LE 4 000). Annual interest rate is 18%. Interest is paid only at time of repaying - in full or in part – principals of
loans. The related interest charges are to be paid regardless of the multiples of LE 4 000. Then
5. Total available cash in October 2021 is (in LE)
a. 43 150 b. 52 000 c. 41 000 d. None of these
6. The loan that firm will get in October 2021 is (in LE)
a. 3 000 b. 4 000 c. 8 000 d. 12 000
7. The beginning balance in November 2021 is (in LE)
a. 9 850 b. 10 000 c. 12 000 d. 11 000
8. Cash excess or deficit in November 2021 is (in LE)
a. (6 000) b. (5 000) c. (8 000) d. (4 000)
9. The loan that firm will get in November 2021 is (in LE)
a. 3 000 b. 4 000 c. 8 000 d. 12 000
10. The repaid interest in December 2021 for October loan is (in LE)
a. 150 b. 180 c. 120 d. 300
11. The total repaid interest in December 2021 is (in LE)
a. 150 b. 180 c. 120 d. 300
12. The beginning balance for the fourth quarter 2021 is (in LE)
a. 3 000 b. 5 000 c. 10 000 d. 12 000
13. The total cash excess for the fourth quarter 2021 is (in LE)
a. 3 150 b. 8 150 c. 1 150 d. (2 850)
14. The ending balance at the end of December 2021 is (in LE)
a. 10 850 b. 10 000 c. 12 000 d. 11 000
15. The residual balance of loans at the end of December 2021 is (in LE)
a. 2 000 b. 4 000 c. 12 000 d. 11 000
Choose the best choice for each of the following statements:
For preparing the collection budget for the fourth quarter of 2021 you know: All sales are on credit. Credit sales
are collected based on 60% in the next month and 40% in the following month. Accounts receivable balance on
October 1, 2021 is LE 420 (included LE 120 form August 2021 sales, and LE 300 from September 2021 sales).
Expected sales in October, November, and December are LE 250, LE 150, and LE 300 respectively.
16. Collection of September credit sales in October 2021 is (in LE)
a.150 b. 300 c. 120 d. 180
17. Collection of September credit sales in November 2021 is (in LE)
a.150 b. 300 c. 120 d. 180
18. Collection of August credit sales in October 2021 is (in LE)
a.120 b. 300 c. 150 d. 180
19. The expected collection of sales in October 2021 is (in LE)
a.190 b. 270 c. 300 d. 360
20. The expected collection of sales in November 2021 is (in LE)
a.190 b. 270 c. 300 d. 360
21. The expected accounts receivable balance at the end of December 2021 is (in LE)
a.190 b. 270 c. 260 d. 360
Choose the best choice for each of the following statements:
Total expected sales for overall the fourth quarter 2021 is LE 1000, this amount is allocated among October,
November, and December based on 4:3:3 respectively. Monthly gross profit is 60% of monthly sales. Monthly
ending inventory is 25% of the same month cost goods sold plus LE 20. Cost of ending inventory in September
2021 is LE 50.
22. Purchases in November 2021 is (in LE)
a.170 b. 110 c. 120 d. 400
23. ending inventory in October 2021 is (in LE)
a.70 b. 50 c. 60 d. None of these
24. beginning inventory the fourth quarter 2021 is (in LE)
a.70 b. 50 c. 60 d. None of these
25. total purchases for the fourth quarter 2021 is (in LE)
a.400 b. 110 c. 410 d. 390
Student Name: ID:
Answers
1 A B C D 8 A B C D 15 A B C D 22 A B C D

2 A B C D 9 A B C D 16 A B C D 23 A B C D

3 A B C D 10 A B C D 17 A B C D 24 A B C D

4 A B C D 11 A B C D 18 A B C D 25 A B C D

5 A B C D 12 A B C D 19 A B C D

6 A B C D 13 A B C D 20 A B C D

7 A B C D 14 A B C D 21 A B C D