
Accounting Basics Quiz

Quiz
•
Mathematics
•
11th Grade
•
Easy
Neabel Villegas
Used 1+ times
FREE Resource
20 questions
Show all answers
1.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
To find an explanation for a transaction, one should look at the _______________.
2.
OPEN ENDED QUESTION
3 mins • 1 pt
Which of the following accounts might be placed first in a proper journal entry?
Evaluate responses using AI:
OFF
3.
OPEN ENDED QUESTION
3 mins • 1 pt
Which of the following events does not require an entry in journal form?
Evaluate responses using AI:
OFF
4.
OPEN ENDED QUESTION
3 mins • 1 pt
A Php 200,000 machine is purchased by paying Php 50,000 cash and issuing a promissory note for the remainder. The journal entry should include a _________________.
Evaluate responses using AI:
OFF
5.
OPEN ENDED QUESTION
3 mins • 1 pt
When collections are made on Accounts Receivable, ______________________________.
Evaluate responses using AI:
OFF
6.
OPEN ENDED QUESTION
3 mins • 1 pt
Which of the following accounts has a normal debit balance?
Evaluate responses using AI:
OFF
7.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
Which of the following describes the classification and normal balance of the Service Revenues account?
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