TT2 IGCSE Accounting equation
Quiz
•
Education
•
9th - 10th Grade
•
Practice Problem
•
Medium
S Boardman
Used 74+ times
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15 questions
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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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