WorksheetsDouble Entry book keeping
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
A place where financial information is recorded is called a / an
a)
account
b)
transaction
c)
sales
d)
purchases
2.
An action taken place by a business and the effect of this is measured in money is a
a)
transfer
b)
account
c)
transaction
d)
ledger
3.
P in PEARLS refers to what in accounting?
a)
Promise
b)
Pinch
c)
Purchases
d)
Panic
4.
The debit side is on which side of the account?
a)
Left
b)
Right
5.
The credit side of an account is on the
a)
left side
b)
right side
6.
We use the debit side of the account to show
a)
Assets
b)
liabilities
c)
gains
7.
We use the credit side of the account to show
a)
assets
b)
expenses
c)
liabilities
8.
Bills that we owe are
a)
assets
b)
purchases
c)
liabilites
d)
wages
9.
Phone bills, wages and insurance are examples of
a)
gains
b)
revenue
c)
capital
d)
expenses
10.
How a company or firm earns money through normal business activity is called
a)
revenues
b)
capital
c)
accounting
d)
wages
100 %
