Accounting

How many classes of Accounts?

• 4

• 1

• 5

• None

A Vehicle is an……… to the business.

• Liability

• Income

• Asset

• Expense

Money the owner take for personal use.

• Drawings

• Debit

• Loan

• Asset

Asset is equal to Owner’s Equity plus….

• Loan

• Liability

• Levels

• Land

A journal that summarises all income

• CDC

• General journal

• CRJ

• CPJ

Recording book where the double entry is applied.

• General accounting

• Creditors journal

• Cash journals

• General Ledger

It lists all ledger accounts with their balances?

• Debit balances

• Credit balances

• Accounting equation

• Trial balance

Ethics is knowing the difference between ….

• Debit & credit

• Right and wrong

• Classifying accounts

• Businesses

If the business buys Stationery, what account increases?

• Bank

• Land

• Expenses

• None

Asset increases with ….. entry.

• Credit

• Debit

• Closing off

• Balancing