For every debit entry there must be a matching credit entry in the ledger. This is know as_____
EMS0909

Quiz
•
Business
•
9th Grade
•
Hard

Woodridge Connect
FREE Resource
5 questions
Show all answers
1.
FILL IN THE BLANK QUESTION
1 min • 1 pt
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All activities involving monetary value that take place between the business and other enterprises (people) must at some point be recorded in the books of the enterprise
Journals
Transactions
Documents
General ledger
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All transactions must be recorded properly. Accounts must be balanced and a trial balance needs to be prepared.
Income statement
Transactions
Trial Balance
Financial statement
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business received money from a client for service rendered - in which journal should the transaction be recorded?
No Journal Entry
Cash Receipts Journal
Cash Payments Journal
General Ledger
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Mr. Fleho deposited money as capital contribution into the business bank account - in which journal should the transaction be recorded?
Cash Receipts Journal
Cash Payments Journal
No Journal Entry
General Ledger
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