accounts payable quiz

Quiz 15: Accounts Payable Test

Take our accounts payable practice test to check out your knowledge of accounts payable used in double entry bookkeeping.

Not Ready for the Accounts Payable Quiz?

If you need a refresher course on this topic you can view our tutorials on the accounts payable here.

Start the Accounts Payable Test

Click on an answer to reveal whether its Right! or Wrong

1. Is accounts payable a liability?
Wrong
Right!
2. What are accounts payable?
Right!
Wrong
3. If a purchase is made from a supplier on credit, the account debited is?
Right!
Wrong

 

4. Suppose an invoice is received for 2,000 2% 15 days, net 30 terms. What is the discount taken if paid in 14 days?
Wrong
Right!
5. When you make a cash payment to an account supplier you debit or credit accounts payable?
Wrong
Right!
6. Accounts payable is used in which ratio?
Right!
Wrong
7. A purchase return would result in a debit or credit entry to accounts payable?
Wrong
Right!
8. An accounts payable ledger account would normally have a debit or credit balance?
Right!
Wrong
9. The accounts payable subsidiary ledger should be reconciled to which account?
Right!
Wrong
10. Another name for accounts payable is?
Right!
Wrong

Try Another Double Entry Bookkeeping Quiz

The accounts payable test is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping, discover another at the links below.

Last modified November 6th, 2019 by Michael Brown

About the Author

Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.

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Posted By: Michael Brown
Accounts Payable