The Cash Payments Journal & Markets is one of 9 topics in the Grade 8 Economic and Management Sciences CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. What is the Cash Payments Journal (CPJ) used for?
Recording every transaction where the business pays out cash
Recording every transaction where the business receives cash
Recording only transactions over R1,000
Recording a business's total yearly income
Answer: Recording every transaction where the business pays out cash — The CPJ records cash going OUT of a service business, whenever the business pays for something like rent, stationery, wages or electricity.
Medium
2. Which of these is an example of an analysis column you might find in a CPJ?
Rent Expense
Fees Income
Capital Contributed
Sales Income
Answer: Rent Expense — The CPJ uses analysis columns for different types of payments, such as Rent Expense or Wages, plus a Sundries column for other payments.
Medium
3. What is the purpose of the Bank column in the CPJ?
Answer: to show how much cash actually went out — The Bank column in the CPJ shows how much cash actually went out of the business for each payment.
