basic Accounting Test -SIP
Authored by Saravanan PV
Business
University
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60 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Book keeping is ______.
An art
A science
Both an art as well as science
None of these
2.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Where did you book cost paid bank charges?
Debit side
Credit side
both
3.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Please book transaction below: Invoice received for electricity.
Debit Bank account/ Credit Cost
Debit Liabilities / Credit Cost
Debit Cost / Credit Liabilities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets are ₹ 120,000. Owner's Equity is ₹ 95,000. What is the Liability?
₹ 215,000
₹ 25,000
None of the Choices
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Anything of value that is owned
Accounting
Asset
Liability
Owner's Equity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An amount recorded on the right side
T-Account
Debit
Credit
Chart of Accounts
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A decrease in owner's equity resulting from the operation of a business.
withdrawal
expense
revenue
investment
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