Debits And Credits Quiz

10 Questions

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Debits And Credits Quiz


Questions and Answers
  • 1. 
    Double entry bookkeeping requires all transactions to be entered to the ledgers..
    • A. 

      Once minimum

    • B. 

      Twice minimum

    • C. 

      Four times minimum

  • 2. 
    • A. 

      Once as a debit and once as a credit in the same ledger account

    • B. 

      At least once as a debit in one ledger account and at least once as a credit in a different ledger account

    • C. 

      Neither of the above

  • 3. 
    Which sides do the debits and credits go on?
    • A. 

      Debits on the right, credits on the left

    • B. 

      Debits and credits both in the centre

    • C. 

      Debits on the left and credits on the right

  • 4. 
    Match the following
    • A. Expenses
    • A.
    • B. Income
    • B.
  • 5. 
    What is increased and decreased by the debits and credits on each ledger account?
    • A. 

      The number of transactions

    • B. 

      The total values

    • C. 

      The quantity of pages

  • 6. 
    • A. 

      Debit the stationery account

    • B. 

      Credit the stationery account

    • C. 

      Debit the bank account

    • D. 

      Credit the bank account

  • 7. 
    • A. 

      Debit the income account

    • B. 

      Credit the income account

    • C. 

      Debit the bank account

    • D. 

      Credit the bank account

  • 8. 
    What helps keep the books in balance?
    • A. 

      Making a lot of sales

    • B. 

      Entering each transaction value as a debit and as a credit in the relevant ledger accounts

    • C. 

      Not letting the bank account go into overdraft

  • 9. 
    What dictates the debit and credit entries?
    • A. 

      The golden rule

    • B. 

      The guidelines of the banks

    • C. 

      The accounting equation

  • 10. 
    A credit entry can be split into more than one debit entry?
    • A. 

      True

    • B. 

      False