WorksheetsAccounting Knowledge
Total questions: 10
Worksheet time: 14mins
Accounts receivable normally has ________ balance
Debit
Credit
Negative
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Journal is a book of ______entry
Secondary
Original
First
None of these
Recording of transaction in ledger is called as
Journalizing
Posting
Recording
None of these
A collection of all accounts is a ___________
Journal
Trial balance
Ledger
Chart of Accounts
A short description of every transaction made in the journal is called
Summary
Narration
Description
Remark
Income is measured on the basics of
Entity concept
Accounting period concept
Going concern concept
None of these
Nominal accounts are related to
Assets & liability
Expenses & losses
Debtors & creditors
None of these
Real accounts are related to
Assets & liability
Expenses & losses
Debtors & creditors
None of these
A Bank Loan is classified as a:
Revenue
Expense
Asset
Liability
Which of the following item is not an asset.
Cash at Bank
Stationery
Motor Vehicle
Inventories
