Double Entry System
Quiz by Fadhel EBRAHIM
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10 questions
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- Q1Invested cash in the business record in the journal asNone of the aboveDr Capital Cr CashDr cash Cr capitalDr equipment Cr capital30s
- Q2Which of the accounts increase in Dr sideAll of the aboveAssets, Drawing and ExpensesAssets,Capital and DrawingRevenue,capital and Liabilities30s
- Q3which of the accounts decrease in Dr sideAssets,Drawing and RevenueCapital,Assets and ExpensesNone of the aboveCapital,Revenue and Liabilities30s
- Q4Every transaction has two entries (Effects) Dr and Cr in the journal :trueFalse30s
- Q5both side debit and credit in the general journal should be equalFalseTrue30s
- Q6Performed services BD5,200 to customer Gulf Co. on account, so the account to be credited isSalesAccount ReceivableAccount PayableService Revenues30s
- Q7Invested cash BD16,000 and equipment BD4,000 in the business.So capital will be credited by160002000040001200030s
- Q8What is the name of book for recording daily Business transactionsGeneral JournalIncomeBalance sheetDaily Book30s
- Q9When cash decreases it recorded asNot recordedoptional debit or creditcreditdebit30s
- Q10when the drawing decreases as matter of wrong increase , it should bedebitedNo action neededcredited30s