Quiz: Principles Of Double Entry Bookkeeping Part 3

4 Questions

Settings
Please wait...
Bookkeeping Quizzes & Trivia

Before attempting this quiz you should have watched the video entitled "Principles of Double Entry Bookkeeping part 3". You have 15 minutes to complete the quiz. Good Luck!


Questions and Answers
  • 1. 
    On each side of the 'T' account there must be a  least three columns:1. date2. amount3.
    • A. 

      Income tax

    • B. 

      Details

    • C. 

      Trade discount

  • 2. 
    On the 10th January a business pays its insurance of £350 by cheque. The correct double-entry is:
    • A. 

      Debit bank account and Credit insurance account

    • B. 

      Debit Insurance account and Credit bank account

    • C. 

      Credit wages account and Debit bank account

  • 3. 
    • A. 

      Debit sales account and Credit bank account

    • B. 

      Credit sales account and Debit purchases account

    • C. 

      Debit bank account and Credit sales account

    • D. 

      Credit bank account and Debit sales account

  • 4. 
    On 1st November a business pays business rates of £100. The correct double entry is:
    • A. 

      Debit wages account and credit bank account

    • B. 

      Debit rates account and credit bank account

    • C. 

      Debit bank account and credit rates account