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Accounting Multiple Choice Quiz

Authored by Stellar Education

Business

9th Grade

Used 6+ times

Accounting Multiple Choice Quiz
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30 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which account type increases with a debit?

Liabilities

Assets

Capital

Revenue

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When recording an increase in revenue, which entry should you use?

Debit

Credit

Neither

Both

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which account type decreases with a debit entry?

Assets

Liabilities

Expenses

Revenue

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If you buy equipment for cash, what is the correct journal entry?

Debit Equipment, Credit Bank

Credit Equipment, Debit Bank

Debit Bank, Credit Equipment

Credit Equipment, Credit Bank

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When paying rent, which account is debited?

Bank

Rent Expense

Capital

Revenue

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A business owner invests cash into the business. Which account should be credited?

Bank

Capital

Loan Payable

Equipment

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which type of account increases with a credit entry?

Expenses

Assets

Revenue

Bank

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