Ledger Test
Authored by Victoria Lacey
Business
11th Grade
Used 132+ times
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16 questions
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1.
FILL IN THE BLANKS QUESTION
20 sec • 1 pt
Business paid for electricity $660 inclusive GST. Calculate GST.
(a)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Study the transactions in this ledger. What is the name of the ledger account?
GST Credits
GST Payable
GST Control
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which side of the ledger would increase an expense?
Debit
Credit
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which side of ledger would increase drawings?
Debit
Credit
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which side of the ledger would increase capital?
Debit
Credit
6.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
Which three accounts are balanced (bal c/d and b/d) at the end of the reporting period?
Income
Assets
Expenses
Equity
Liabilities
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The ledger that is a summary of all income and expenses is the:
Capital
Equity
Profit and Loss
Income statement
Balance sheet
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