5 Common Mistakes to Avoid While Preparing Journal Entries
Interactive Video
•
Business
•
10th Grade - University
•
Practice Problem
•
Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in recording a transaction in a journal?
Analyzing the transaction
Applying the debit and credit rule
Writing the narration
Preparing the ledger
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to write 'Dr.' and 'To' in journal entries?
To make the journal look neat
To avoid writing narrations
To ensure the entry is considered correct
To save time during exams
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do if you are unsure about a journal entry?
Copy from a friend
Apply logic and attempt it
Leave it blank
Guess randomly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of checking the arithmetical accuracy of journal entries?
To ensure the journal is colorful
To verify the total of debit and credit amounts
To make the journal look professional
To avoid writing narrations
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do after passing all journal entries?
Ask a friend to review
Rewrite all entries
Relax and submit the journal
Check the arithmetical accuracy
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