Quiz 37: Debit Credit In Accounting Quiz

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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Wrong
Right!
2. A business makes cash purchases. What type of entry is made to the cash account?
Right!
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Wrong
3. A business signs a contract with a new employee. What type of entry is made to the wages account.
Wrong
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Wrong

 

4. Wages of 1,500 are paid to an employee. What type of entry is made to the wages account?
Wrong
Wrong
Right!
5. Goods are sold on account to a customer. What type of entry is made to accounts receivable?
Wrong
Wrong
Right!
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?
Wrong
Right!
Wrong

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Last modified December 14th, 2016 by Team

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