Accounting is all about the proper reporting of business transactions in the correct books of accounts. This is done to correctly show how the company finances stand at a given point. What do you know about the double-entry rule and other accounting basics? This quiz will help you find out. Do give it a try and see how skilled you are as an accountant!
Debit
Credit
No Entry
None
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One
Two
Three
None of These
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Debit
Credit
No entry
Option 4
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Added to
Subtracted from
Proportionately Divided by
None of the above
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Goodwill
Bills Receivable
Bills Payable
Cash at Bank
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Debited
Credited
No Entry
Option 4
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Real Account
Nominal Account
Personal Account
None of the above
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Asset
Liability
Income
None of these
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Debited
Credited
No entry
Option 4
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I
II
III
None of these
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Debit
Credit
No entry
Option 4
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For resale
Not for resale purpose
For status & symbol
None of the above
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Trading Account
Proft & Loss Account
Balance Sheet
All of the above
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Cost
Current Market Value
Expected Selling Price
Option 4
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Balance Sheet
Trading A/c
Trial Balance
All of the above
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Balance Sheet
Income Statement
Cash flow statement
All of the above
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Debit side of Trading Account
Credit Side of Trading Account
Debit Side of Profit & Loss Account
Credit Side of Profit & Loss Account
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Planning
Control
Decision Making
Review
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Cash is received
Goods have been deliveres
None of the above
Option 4
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