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

Repayment of bank loan

Payment of wages

Payment of accounts payable

Purchase of office equipment on credit

Correct! Wrong!

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

Owner capital

Creditors

Debtors

Account receivable

Correct! Wrong!

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

Expense

Drawing

Revenue

Assets

Correct! Wrong!

A debit will reduce ___, but increase _?

Common stock; prepaid insurance

Accounts receivable; accounts payable

Accounts payable; common stock

Revenues; accounts payable

Correct! Wrong!

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

Cash account

No entry passed

Salary account

The account of sohail

Correct! Wrong!

How the debit side of journal effect?

Introduce owner equity

Increase in Asset

Decrease in Asset

Increase in liability

Correct! Wrong!

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

Assets

Revenue

Net income

Expense

Correct! Wrong!

The payment of cash to supplier will?

Reduce cash balance and reduce current liabilities

Increase receivables and reduce cash balance

Increase payable and reduce cash balance

Reduce account payable and increase purchases

Correct! Wrong!

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

Decrease & increase the account balance

Decrease or increase the account balance

Decrease the account balance

Increase the account balance

Correct! Wrong!

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

Two accounts

Only debits side

Debit and credit side of the same amount

The same side of the same account

Correct! Wrong!

Accounting Variation Proforma 1-10

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Very Good **

Good *

Fair

Fail

Accounting Variation Proforma 1-10

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

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?

A debit will reduce ___, but increase _?

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

How the debit side of journal effect?

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

The payment of cash to supplier will?

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

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

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Accounting Variation Proforma 1-10

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

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?

A debit will reduce _____________________________, but increase ___________________________?

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

How the debit side of journal effect?

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

The payment of cash to supplier will?

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

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

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Search

A debit will reduce ___, but increase _?