Business

Business

10th Grade

5 Qs

quiz-placeholder

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Business

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Assessment

Quiz

Business

10th Grade

Practice Problem

Hard

Created by

ALFREDO CINCO

Used 10+ times

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. This type of discount is not recognized for accounting purposes because they are primarily used to establish pricing policy.

Cash discount

sales discount

Trade discount

sales return and allownces

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

3. Sold merchandise to Ricardo Ricarte y Roxas de Silang con Rizal worth 5000.00. What will be your debit entry for this transaction.

Cash

Sales

Sales Return and allowances

Sales Discount

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. Ricardo Ricarte y Silang con Rizal paid his obligation amounting to 10,000.00. In this transaction what is your credit entry?

Sales discount

sales

cash

Account Recievable

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. Patricia Dimaculangan y Dimalampasan bought furniture for the Candy Store worth Php 25,000.00. in cash. How are you going to record this transaction?

Dr-Furniture

Cr-Cash

Dr- Cash

Cr- furniture

Dr - Cash

Cr - Capital

Dr- Furniture

Cr - Capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. Mr. Donald Grey invested cash amounting to 30,000 for his Food Delivery Business. How are you going to journalize this transaction?

Dr - Capital

Cr - Cash

Dr - Cash 30000

Cr - Capital 30000

Dr - Cash

Cr - Sales

Dr - cash

Cr - Trade discount

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