TT2 IGCSE Accounting equation

TT2 IGCSE Accounting equation

9th - 10th Grade

15 Qs

quiz-placeholder

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TT2 IGCSE Accounting equation

TT2 IGCSE Accounting equation

Assessment

Quiz

Education

9th - 10th Grade

Practice Problem

Medium

Created by

S Boardman

Used 74+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following is incorrect?

A = L+OE

L = OE+A

OE = A-L

A = OE+L

2.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Indicate which two are correct.

Assets increase on the debit side

Assets increase on the credit side

Assets decrease on the debit side

Assets decrease on the credit side

3.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Indicate which two are correct.

Owner's equity increases on the debit side

Owner's equity increases on the credit side

Owner's equity decreases on the debit side

Owner's equity decreases on the credit side

4.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Indicate which two are correct.

Liabilities increase on the debit side

Liabilities increase on the credit side

Liabilities decrease on the debit side

Liabilities decease on the credit side

5.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Jason introduced capital of $40 000 into the business bank account.

Debit bank + credit Owner's equity

Debit owner's equity + credit bank

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Purchased premises, $25 000, by cheque.

Debit bank + credit premises

Debit premises + credit bank

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Purchased goods, $9500, on credit from Lynne.

Debit purchases + credit Lynne

Debit Lynne + credit purchases

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