Double Entry Book-keeping

A place where financial information is recorded is called a / an

• account 
• transaction
• sales 
• purchases

An action taken place by a business and the effect of this is measured in money is a

• transfer
• account
• transaction
• ledger

The debit side is on which side of the account? 

• Left
• Right

The credit side of an account is on the 

• left side
• right side

We use the debit side of the account  to show

• Assets 
• liabilities
• gains

Bills that we owe are 

• assets
• purchases
• liabilites
• wages

Phone bills, wages and insurance are examples of 

• gains
• revenue
• capital
• expenses

How a company or firm earns money through normal business activity is called 

• revenues
• capital
• accounting 
• wages

The business owner, Jack invested $9000 into the business bank account. What is the double entry to record this transaction?

• Debit Bank and Credit Capital

• Debit Capital and Credit Bank

• Debit Capital and Credit Jack

• Debit Jack and Credit Bank

Bought office furniture by cheque £1500

• Credit Bank / Debit Office Furniture

• Debit Office Furniture/Credit Bank