Level 3 Accounting and GL
Quiz by Domain Training
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
- Q1
Rate of interest charged by a central bank to commercial banks without Security
Bank Rate
LIBOR
Base Rate
MCLR
30s - Q2
Minimum interest rate that financial institutions could offer and lending below the base rate
Repo Rate
Base Rate
Spread Rate
Bank Rate
30s - Q3
Home Loan is
None of these
an asset to the Bank
a liability to the Bank
an asset to the borrower
30s - Q4
Term Deposit is
a liability to the depositor
an asset to the Bank
a liability to the Bank
None of these
30s - Q5
A customer pays INR 50 as a charge for ATM transactions, it is recorded as
income to the bank
asset to the bank
expense for the bank
liability for the bank
30s - Q6
Entries to expenses such as Rent Expense are usually
Debits
None of these
Credits
Can be both
30s - Q7
Entries to revenues / income accounts are usually
Credits
Debits
Both
None of these
30s - Q8
When cash is received, the account Cash GL will be
Debited
Any of these
None of these
Credited
30s - Q9
Accounting entries involve a minimum of how many accounts?
1
2
4
3
30s - Q10
Which financial statement reports the assets, liabilities, and stockholders' (owner's) equity at a specific date?
None of these
Income Statement
Balance Sheet
Statement Of Cash Flows
30s - Q11
Should the Rs 500 entry to the Cash account be a debit?
truefalseTrue or False30s - Q12
Debit Income and Credit Ac Payable is an
Loan Entry
None of these
Accrual Entry
Expense Entry
30s - Q13
Debit Ac Payable Credit Customer CASA is an
none of these
Liquidation Entry
Accrual Entry
Deposit booking entry
30s - Q14
To increase an Asset, you Debit the account?
truefalseTrue or False30s - Q15
Which account is not a liability account
Cash
Notes Payable
Accrued Expenses
Ac Payable
30s