Debit Credit In Accounting Quiz
Test your knowledge of double entry bookkeeping with our online debit credit in accounting quiz.
If you need a refresher course on this topic you can view our basics of bookkeeping tutorials here.
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1. A fixed asset is disposed of for cash. What type of entry is made on the fixed assets account?
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2. A business makes cash purchases. What type of entry is made to the cash account?
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3. A business signs a contract with a new employee. What type of entry is made to the wages account.
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4. Wages of 1,500 are paid to an employee. What type of entry is made to the wages account?
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5. Goods are sold on account to a customer. What type of entry is made to accounts receivable?
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6. Commission is earned by a business. What type of entry is made to the commissions earned account?
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7. Discounts are allowed to a customer. What type of entry is made to the discounts allowed account?
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8. Inventory is are purchased on account from a supplier. What type of entry is made on the accounts payable account?
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9. Goods are sold for cash. What type of entry is made on the accounts receivable account?
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10. A business owner injects cash into a business. What type of entry is made to the cash account?
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Try Another Double Entry Bookkeeping Quiz
Random bookkeeping quizzes for you to test your knowledge.
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- Quiz 29: Break Even Quiz
Last modified July 16th, 2019
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.