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WorksheetsACCOUNTING
Total questions: 15
Worksheet time: 10mins
Double entry in accounting means there must be________ entries for every transaction?
two
Three
six
one
A general Leger/T) has a ______ and _______ side.
cash receipt and debtors
debit and payments
debit and credit
creditors and debtors
Assets increase on the ________ side?
subsidiary
T-account
credit
debit
owners equity decreases on the _________ side?
credit
debit
payments
liability
assets decreases on the _______ side?
debit
two
credit
sixth
________ are debts of the business?
assets
liabilities
owners equity
vehicles
Equipment are an example of an/a ______?
loan
asset
liability
owners equity
trading stock is an/a ________?
equity
liabilities
assets
owners equity
when the owner takes money out of the business's account it is called _________?
credit
drawings
debt
borrowing
water and electricity is an/a __________?
credit
asset
expense
income
rates and taxes are an/a ________?
profit
income
VAT
Expense
_______ can also be in a form of assets?
tax
capital
customers
bank
general ledgers are _________?
VAT
Mark-Up
debit
T-account
current income is an _______ to the business?
expense
capital
income
credit
opening balance is __________?
balance of payments
balance carried down
balance broad-down
money
