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Account Quizzes & Trivia

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Did you know accounts receivable are legally enforceable claims for payment arranged by a business for goods or services supplied that customers have ordered but not paid? For this quiz, you must know things like what the...

Questions: 18  |  Attempts: 566   |  Last updated: May 26, 2021
  • Sample Question
    What is the transaction code to Display a Document?

Everything you know about the Demat account will be tested in this quiz. The dematerialized account number is important in the success of electronic transactions. For shareholders, a Demat account is needed to access profits...

Questions: 10  |  Attempts: 2084   |  Last updated: Aug 9, 2021
  • Sample Question
    The use of a Demat account protects one from the following except 



Questions: 13  |  Attempts: 1609   |  Last updated: Jun 22, 2020
  • Sample Question
    Which of the following is not an asset?



Questions: 10  |  Attempts: 386   |  Last updated: Dec 30, 2020
  • Sample Question
    Operating equipment?



Questions: 5  |  Attempts: 358   |  Last updated: Dec 30, 2020
  • Sample Question
    A company purchases all goods on credit. The following payables ledger control account contains some errors: Payables ledger control account Debit             $ Purchases 963,200 Discounts received 12,600 Contras with amounts receivable in receivables ledger 4,200 Closing balance 410,400 –––––––– 1,390,400 ———— Credit                         $ Opening balance 384,600 Cash paid to suppliers 988,400 Purchases returns 17,400 –––––––– 1,390,400 ———— What should the closing balance be when the errors have been corrected?
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