debit or credit quiz

Quiz 12: Debit or Credit Quiz

Take our debit or credit quiz to check out your knowledge of debits or credits used in double entry bookkeeping.

Not Ready for the Quiz?

Debits and credits are two fundamental terms in accounting that help to record financial transactions. Accordingly it is important to have a clear understanding of these terms. If you need a refresher course on this topic you can view our debit and credit examples here.

Start the Debit or Credit Quiz

Click on an answer to reveal whether it’s Right! or Wrong

1. Is the plant and machinery account normally a debit or a credit?
Wrong
Right!
2. Is the inventory account normally a debit or credit?
Right!
Wrong

 

3. Is the prepaid expenses account normally a credit or debit?
Right!
Wrong
4. Is the petty cash account normally a debit or a credit?
Wrong
Right!
5. Is the sales discount allowed account normally a debit or credit?
Wrong
Right!
6. Is the commissions received account normally a credit or debit?
Right!
Wrong
7.Is the accumulated depreciation account normally a debit or a credit?
Wrong
Right!
8. Is the accruals account normally a debit or credit?
Right!
Wrong
9. Is the revenue account normally a credit or debit?
Right!
Wrong
10. Is the accounts payable account normally a credit or a debit?
Right!
Wrong

Try Another Double Entry Bookkeeping Quiz

The debit or credit quiz is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping in business. Discover another at the links below.

Last modified March 24th, 2023 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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