Accountancy

Accountancy

University

15 Qs

quiz-placeholder

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Assessment

Quiz

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University

Hard

Created by

Medhansh Pandey

Used 7+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following account with normal balance is shown at the debit side of a trial balance?

Creditors Account

Sales A/c

Rent Income Account

Cash Account

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In trial Balance, which account with normal balance is recorded in the credit side?

Bank Account

Equipment Account

Cash Account

Accrued Expenses Account

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What does a credit balance in the cash account on the trial balance indicate?

Cash is Overdrawn

Cash is a liability

Cash is an asset

Cash is an expense

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If the trial balance does not balance, what could be the potential error?

All debit entries were posted as credit

All transactions were recorded accurately

Only revenue accounts were included

Entry was omitted in both journal and ledger

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following account with a normal balance is shown at the credit side of a trial balance?

Bank

Equipment

Cash

Unpaid Expenses

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

X sold goods of Rs. 100 at a trade discount of 20% and received 50% cash, giving 10% cash discount, how much cash will he earn?

36

72

80

40

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The salary paid to a clerk Ramesh should be credited to?

Salary A/C

Ramesh A/C

Cash A/C

P/L A/C

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