
quizzunit9
Quiz
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Professional Development
•
1st - 5th Grade
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Practice Problem
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39 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. An asset ledger is an accounting ................. for a company that only contains details about
assets, rather than a general ledger that records all financial aspects of the company.
A. journal
B. record
C. document
D. procedure
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2.Debtors ledger contains the accounts of the individual trade debtors of the business.
Individuals, firms and institutions to whom goods and services are sold on ................ by
business become the ‘trade debtors’ of the business.
A. debit
B. credit
C. debtors
D. creditors
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. Asset ledger commonly has entries that bolster the company’s financial strength but, if an asset decreases in value, ................. also is recorded.
A. expense
B. cost
C. loss
D. depreciation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An asset ledger only details one aspect of financial dealings: assets. These are things that help give the company money, can be................. into cash or are used to get work done.
A. converted
B. broken
C. taken
D. turned
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. In a general ledger, assets are .................as general assets, with little or no distinguishing features.
A. analyzed
B. known
C. entered
D. posted
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7. Ledger posting is the process of transferring the debit and the credit .................from the Journal to the ledger.
A. accounts
B. amount
C. balance
D. entries
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
8. The journal entries recorded during the first step provide information about which .................are
to be debited and which to be credited and also the magnitude of the debit or credit.
A. businesses
B. companies
C. accounts
D. corporations
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