Quiz 44: Cash Receipts and Payments Transactions Quiz

Test your knowledge of double entry bookkeeping with our cash receipts and payments transactions quiz.

If you need a refresher course on this topic you can view our basics of bookkeeping tutorials here.

Start the Cash Receipts and Payments Transactions Quiz

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

1. The purchase of inventory for cash includes what type of entry to the cash account?
Wrong
Right!
2. The purchase of equipment includes what type of entry to the equipment account?
Right!
Wrong
3. The repayment of a bank loan includes what type of entry to the bank loan account?
Right!
Wrong
4. The receipt of cash from issuing notes payable includes what type of entry to the notes payable account?
Wrong
Right!

 

 

5. Preferred stock issued for cash includes what type of entry to the preferred stock account?
Wrong
Right!
6. The selling of merchandise for cash includes what type of entry to the cash account?
Right!
Wrong
7. The selling of equipment for a profit includes what type of entry to the gain on disposal account?
Wrong
Right!
8. The payment of a supplier in cash includes what type of entry to the accounts payable account?
Right!
Wrong
9. The payment of wages includes what type of entry to the wages expense account?
Right!
Wrong
10. The sale of equipment for cash includes what type of entry to the cash account?
Right!
Wrong

Try Another Double Entry Bookkeeping Quiz

The cash receipts and payments transactions quiz 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 December 14th, 2016 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 in 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 BSc from Loughborough University.

You May Also Like

Posted By: Michael Brown
Bookkeeping Basics