
Basic Ledger Accounts - 1
Quiz
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Medium
Sharon Couttie
Used 1+ times
FREE Resource
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10 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which 2 accounts would be used for this transaction - Started in business with £1,600 cash
Equity
Cash
Bank
Cash and Cash Equivalents
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which 2 accounts would be used for this transaction - bought fixtures for £350 paying by cheque
Office Equipment
Fixtures and Fittings
Cash and Cash Equivalents
Bank
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which 2 accounts would be used for this transaction - Janice gets a loan from the bank for £3,000
Bank
Bank Loan
Equity
Cash and Cash Equivalents
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which 2 accounts would be used for this transaction - put £500 more into the business by cheque
Business account
Bank
Equity
Cash and Cash Equivalents
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which 2 accounts would be used for this transaction - Janice started in business with a car worth £15,000
Cash and Cash Equivalents
Motor Vehicles
Equity
Bank
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
For every Dr there must be a corresponding
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Equity is always entered on the ... side
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