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11th - 12th Grade

9 Qs

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Assessment

Quiz

Business

11th - 12th Grade

Practice Problem

Hard

Created by

Craig B

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A sale of goods to Raani for cash is debited to_______

Raani

Cash

Sales

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

"The owner invested cash BD100 in the business" Cr. side for this transaction is

Capital

Revenue

Drawings

Non of the answers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Performed service BD60, and received BD20". Dr side of this transaction in journal entries is

Dr. Cash 20 and Dr. Account Receivable 40

Dr. Account Receivable 40 only

Dr. Account payable 40

Dr. Cash only

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Company purchased equipment for BD3000 cash" what is the Dr side for this transaction?

Equipment

Cash

Capital

Asset

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"The Company paid cash BD20 to creditor". It recorded in the general journal

Dr. Account payable 20 , Cr. Cash 20

Dr. Cash 20, Cr. Account payable 20

Dr. Account Receivable 20, Cr. Cash 20

Dr. Cash 20, Cr. Account receivable 20

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Company received cash BD4,000 from customer, which was on account ". It recorded in the general journal

Dr. Cash 4000, Cr. Account Receivable 4000

Dr. Account Receivable 4000, Cr. Cash 4000

Dr. Account payable 4000, Cr. Cash 4000

None

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cr. side in journal entry is

Liability, Revenues, and Capital

Liability, Revenues, and Drawings

Assets, Revenues, and Capital

Liability, Expenses, and Capital

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Normal Balance of Prepaid Insurance is

Dr. & Cr.

Cr. side

Dr. side

None of the answers

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Decrease in account receivable

Account receivable will be recorded in ........... of the journal entry

Cr. side

Dr. side

Dr. & Cr.

None of the answers