REVISION 3 : TOPIC 7, 8 & 9

Quiz
•
Professional Development, Education, Business
•
1st Grade - University
•
Medium
Mas Mohd
Used 18+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the double entries to record bad debt?
dr. Bad Debt, cr. Allowance for Doubtful Debts
dr. Profit and Loss, cr. Bad Debt
dr. Bad debt, cr. Profit and Loss
dr. Bad debt, cr. Accounts Receivable
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The double entries to record an increase in allowance for bad debts are?
dr. Accounts Receivables, cr. Allowance for doubtful debts
dr. Bad debt, cr. Allowance for doubtful debts
dr. Allowance for bad debt, cr. Accounts Receivables
dr. Allowance for doubtful debts, cr. Bad debt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bad debts can be classified as:
a current asset
a current liability
an expense
a revenue
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
% of provision X ending balance of Accounts Receivable = ?
beginning balance of Bad Debt Expense
beginning balance of Allowance for Doubtful Debts
Bad Debt Expense
ending balance of Allowance for Doubtful Debts
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bad Debts Recovery is the account to be credited when the uncollectible amount that has been confirmed as Bad Debts suddenly can be collected.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Two methods of accounting for uncollectible accounts are the
allowance method and the accrual method.
direct write-off method and the accrual method.
direct write-off method and the allowance method.
allowance method and the net realizable method.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The journal entry for recording accounts receivable is:
Dr. Sales; Cr. Accounts Receivable
Dr. Accounts Receivable: Cr. Sales
Dr. Cash; Cr. Sales
Dr. Sales; Cr. Accounts Payable
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