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Accounting

Authored by Julia Sharkey

Other

9th - 12th Grade

Used 10+ times

Accounting
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Double entry in accounting means there must be________ entries for every transaction?

two

Three

six

one

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A general Leger/T) has a ______ and _______ side.

cash receipt and debtors

debit and payments

debit and credit

creditors and debtors

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets increase on the ________ side?

subsidiary

T-account

credit

debit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

owners equity decreases on the _________ side?

credit

debit

payments

liability

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

when the owner takes money out of the business's account it is called _________?

credit

drawings

debt

borrowing

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

water and electricity is an/a __________?

credit

asset

expense

income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The period of time covered by an accounting report is the accounting period.

True
False

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