Accounting Quiz: Debit and Credit Entries

Accounting Quiz: Debit and Credit Entries

11th Grade

15 Qs

quiz-placeholder

Similar activities

Accounting- 8-2: Closing Entries

Accounting- 8-2: Closing Entries

9th Grade - University

15 Qs

BOOKS OF PRIME ENTRY_ JOURNAL

BOOKS OF PRIME ENTRY_ JOURNAL

9th - 12th Grade

10 Qs

Bookeeping 2.3

Bookeeping 2.3

9th - 12th Grade

16 Qs

Analisis Bukti Transaksi 2

Analisis Bukti Transaksi 2

11th Grade

15 Qs

Analyzing Transactions

Analyzing Transactions

10th - 12th Grade

10 Qs

Financial Assessment Quiz

Financial Assessment Quiz

11th Grade

14 Qs

FABM2

FABM2

11th Grade

20 Qs

Easy Accounting Basics

Easy Accounting Basics

11th - 12th Grade

20 Qs

Accounting Quiz: Debit and Credit Entries

Accounting Quiz: Debit and Credit Entries

Assessment

Quiz

Mathematics

11th Grade

Hard

Created by

Evelyn Maligaya

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • Ungraded

What is the debit entry for an initial investment by the owner?

Owner's Capital

Cash

Accounts Payable

Assets

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When assets are purchased with cash, what is the credit entry?

Assets

Cash

Accounts Receivable

Owner's Capital

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the debit entry when assets are bought on account?

Accounts Payable

Service Income

Assets

Cash

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If assets are purchased on credit with notes, what is the credit entry?

Accounts Receivable

Cash

Notes Payable

Owner's Drawing

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the debit entry when paying for assets previously bought on account?

Service Income

Cash

Accounts Payable

Assets

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When expenses are paid through cash, what is the credit entry?

Owner's Capital

Accounts Payable

Expenses

Cash

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the debit entry when cash is collected for services rendered?

Expenses

Accounts Receivable

Cash

Service Income

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?