Accounting Quiz

What is a debit entry?

• An accounting entry acknowledging sums that are owing

• A balance of debits and credits in double-entry bookkeeping

What is an accounting system?

• An accounting entry acknowledging sums that are owing

• A bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts

What is a ledger?

• An accounting entry acknowledging sums that are owing

• A record in which commercial accounts are recorded

What is an income statement?

• An accounting entry acknowledging sums that are owing

• An accounting entry acknowledging income or capital items

• A financial statement that gives operating results for a specific period

• An accounting entry acknowledging income or capital items

What is an entry?

• An accounting entry acknowledging sums that are owing

• The act of going in

• A record in which commercial accounts are recorded

• An accounting entry acknowledging income or capital items

What is bookkeeping?

• An accounting entry acknowledging sums that are owing

• The activity of recording business transactions

• A record in which commercial accounts are recorded

• An accounting entry acknowledging income or capital items

What is a balance?

• An accounting entry acknowledging sums that are owing

• Harmonious arrangement or relation of parts within a whole

• A record in which commercial accounts are recorded

• An accounting entry acknowledging income or capital items

What is a financial statement?

• An accounting entry acknowledging sums that are owing

• A document showing credits and debits

• A record in which commercial accounts are recorded

• An accounting entry acknowledging income or capital items