NEW
Font size
S
M
L
XL
WorksheetsBook-Keeping Assignment 3
Total questions: 10
Worksheet time: 1hrs 1mins
Name
Class
Date
1.
When the proprietor brings in additional cash, what will be the effect of the transaction on the Statement Of Financial Position?
a)
Increase in Assets, decrease in Liabilities
b)
Decrease in Assets, increase in Liabilities
c)
Increase in Assets, increase in Equity
d)
Decrease in Assets, decrease in Equity
2.
The main purpose of drawing up a Trial Balance is to check________.
a)
whether all journal entries have been posted
b)
whether all invoices have been sent out
c)
the accuracy of the double entry
d)
the difference between the Cash Book balance and the Bank Statement balance
3.
The debit side is on which side of the account?
a)
Left
b)
Right
4.
We use the debit side of the account to show
a)
Assets
b)
liabilities
c)
gains
5.
Bills that we owe are
a)
assets
b)
purchases
c)
liabilites
d)
wages
6.
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
7.
A place where financial information is recorded is called a / an
a)
account
b)
transaction
c)
sales
d)
purchases
8.
The credit side of an account is on the
a)
left side
b)
right side
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
Reset
