Accounts Term 2 COB
Authored by Sheree-Ann Lashley
Business
6th - 8th Grade
Used 2+ times
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The purchase of a vehicle by cheque. Which account should you debit?
Vehicle
Bank
Cheque
Purchases
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Purchase of equipment by credit. Which account should you debit?
Credit
Equipment
Cheque
Purchases
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Owner invests private funds in the business' bank account. Which account should you debit?
Capital
Bank
Cheque
Purchases
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sale of equipment on credit. Which account should you credit?
Sales
Payables
Equipment
Credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Owner withdraws cash for private use from the bank account. Which account should I debit?
Drawings
Credit
Withdrawal
Bank
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Owner withdraws cash for private use from the bank account. Which account should I credit?
Drawings
Credit
Capital
Bank
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Repaid money owed to a supplier using cash. Which account should I credit?
Cash
Credit
Payables
Bank
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