WorksheetsEMS0925
Total questions: 10
Worksheet time: 7mins
Valuable possessions of the business is called________
Owner’s Equity
Assets
Capital
Liabilities
A payment card that deducts money directly from a consumer's account when it is used.
Debit Card
Credit Card
Money or any other Assets taken by the owner from the business for person or family use is called ______
Capital
Fixed deposit
Drawings
When the owner contributes capital towards the business the transaction is recorded in the __________
Cash Payments Journal
Debtors Journal
Debtors Allowances Journal
Cash Receipts Journal
When someone rents a building from you and pays you rent income every month the transactions will be recorded in the _______
Debtors Journal
Cash Payments Journal
Cash Receipts Journal
Debtors Allowance Journal
An increase on the debit side (DR+) and decrease on the credit side (CR-)
(a)
An increases equity on the credit side (CR+)
(a)
An increase on the credit side (CR+) and decrease on the debit side (DR-)
(a)
How does the purchase of a grass cutting machine for R9 500 from Makro affect the accounting equation
Assets - and Liabilities +
Assets - and Owners Equity +
Assets - and Assets +
How does the sales of goods on credit affect the accounting equation
Assets + and Owners' Equity +
Assets + and Liabilities +
Assets + and Assets +
