Accounting Variation Proforma (1-10)

The payment of cash to supplier will?

Increase receivables and reduce cash balance

Increase payable and reduce cash balance

Reduce account payable and increase purchases

Reduce cash balance and reduce current liabilities

Correct! Wrong!

A debit will reduce ___, but increase _?

Revenues; accounts payable

Accounts payable; common stock

Common stock; prepaid insurance

Accounts receivable; accounts payable

Correct! Wrong!

Which of the following transactions results in an immediate increase in expenses?

Payment of wages

Purchase of office equipment on credit

Repayment of bank loan

Payment of accounts payable

Correct! Wrong!

The amount of salary paid to Sohail should be debited to?

No entry passed

The account of sohail

Cash account

Salary account

Correct! Wrong!

A person who pays out something or to whom money owes is called?

Debtors

Account receivable

Creditors

Owner capital

Correct! Wrong!

The decrease in owner’s equity attributable to business activities is called?

Assets

Expense

Drawing

Revenue

Correct! Wrong!

The effect of a credit entry on the payables account is to?

Decrease & increase the account balance

Increase the account balance

Decrease the account balance

Decrease or increase the account balance

Correct! Wrong!

The amount charged to customer for goods or services sold is called?

Revenue

Assets

Expense

Net income

Correct! Wrong!

In double entry system of book–keeping every business transaction affects?

Debit and credit side of the same amount

Only debits side

The same side of the same account

Two accounts

Correct! Wrong!

How the debit side of journal effect?

Increase in liability

Introduce owner equity

Increase in Asset

Decrease in Asset

Correct! Wrong!

Accounting Variation Proforma (1-10)

Super Excellent ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Variation Proforma (1-10)

The payment of cash to supplier will?

A debit will reduce ___, but increase _?

Which of the following transactions results in an immediate increase in expenses?

The amount of salary paid to Sohail should be debited to?

A person who pays out something or to whom money owes is called?

The decrease in owner’s equity attributable to business activities is called?

The effect of a credit entry on the payables account is to?

The amount charged to customer for goods or services sold is called?

In double entry system of book–keeping every business transaction affects?

How the debit side of journal effect?

Submit a Comment Cancel reply

Search

Accounting Variation Proforma (1-10)

The payment of cash to supplier will?

A debit will reduce _____________________________, but increase ___________________________?

Which of the following transactions results in an immediate increase in expenses?

The amount of salary paid to Sohail should be debited to?

A person who pays out something or to whom money owes is called?

The decrease in owner’s equity attributable to business activities is called?

The effect of a credit entry on the payables account is to?

The amount charged to customer for goods or services sold is called?

In double entry system of book–keeping every business transaction affects?

How the debit side of journal effect?

Submit a Comment Cancel reply

Search

A debit will reduce ___, but increase _?