Bookkeeping Cycle Quiz No. 1

5 Questions | Total Attempts: 348

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Bookkeeping Quizzes & Trivia

True or False.


Questions and Answers
  • 1. 
    It is the task of recording, classifying and summarizing of financial transactions and events.
    • A. 

      Journal Entry

    • B. 

      Bookkeeping

    • C. 

      Debit

    • D. 

      Credit

  • 2. 
    Refers to an entry on the left side of an account.
    • A. 

      Debit

    • B. 

      Credit

    • C. 

      Account Tittle

    • D. 

      Date

  • 3. 
    Refers to an entry on the right side of an account.
    • A. 

      Debit

    • B. 

      Credit

    • C. 

      Account Tittle

    • D. 

      Date

  • 4. 
     The purpose of posting to a ledger is to apply the deposits and charges to the specific account in which they belong.
    • A. 

      True

    • B. 

      False

  • 5. 
    A ledger is a compilation of accounts.
    • A. 

      True

    • B. 

      False