Accounting Concepts And Recording
10 Questions
| Total Attempts: 37
Questions and Answers
- 1.Motor vehicles are assets and what by nature?
- 2.Electricity is an expense and what by nature?
- 3.An increase in inventory will be recorded in which column?
- A.
Debit
- B.
Credit
- 4.A decrease in capital will be recorded in which column?
- A.
Debit
- B.
Credit
- 5.An increase in sales will be recorded in which column?
- A.
Debit
- B.
Credit
- 6.An increase in cash in hand will be recorded in which column?
- A.
Debit
- B.
Credit
- 7.A decrease in bank overdraft will be recored in which column?
- A.
Debit
- B.
Credit
- 8.An increase in mortgage will be recorded in which column?
- A.
Debit
- B.
Credit
- 9.An increase in furniture will be recorded in which column?
- A.
Debit
- B.
Credit
Welcome to the Accounting Concepts Knowledge Quiz. There are different guidelines to follow when it comes to bookkeeping, and they include accounting concepts, principles, and laws. Revenue is only recognized when there is a...
Questions: 10 | Attempts: 220 | Last updated: Mar 21, 2022
-
Sample QuestionAccrual concept is based on
Financial Accounting means to analyze, summarize, and record financial transactions and show an accurate picture of the company's financial affairs. This quiz will test your knowledge about Financial Principles and Accounting...
Questions: 10 | Attempts: 385 | Last updated: Mar 21, 2022
-
Sample QuestionAll of the information ( name, age, major, etc.) about a particular student is stored in which of the following?
Do you have any experience with bookkeeping and accounting? Bookkeeping is the recording of financial transactions and is part of accounting in business and other organizations. Accounting is the calculation, processing, and...
Questions: 10 | Attempts: 212 | Last updated: Mar 21, 2022
-
Sample QuestionLedger is a principal book of accounts.
Back to top