Journal Entry MCQs
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MCQs 1 To 10
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Transactions are initially recorded in the?
Correct!
Wrong!
In which order does the Journal list transactions?
Correct!
Wrong!
The amount brought in by owner of the business should be credited to?
Correct!
Wrong!
Sales made to Ahmed on credit should be debited to?
Correct!
Wrong!
How much types a transaction has?
Correct!
Wrong!
According to the rules of debit and credit for balance sheet accounts?
Correct!
Wrong!
All of the following are true regarding journal entries except?
Correct!
Wrong!
Of the following account types, which would be increased by a debit?
Correct!
Wrong!
Which of the following transactions would have no impact on stockholders' equity?
Correct!
Wrong!
Which of the following transactions occurs on daily basis in a large business organization?
Correct!
Wrong!
Journal Entry (1-10)
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MCQs 11 To 20
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Commission received is an example of?
Correct!
Wrong!
The abbreviations for debit and credit (Dr. and Cr.) come from what language words?
Correct!
Wrong!
Credit terms of 1/10, n/30 mean that?
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Wrong!
Accrued expenses are also called?
Correct!
Wrong!
Which of the following account/s will be affected under the rule of accrual accounting, when furniture is purchased on cash?
Correct!
Wrong!
Which one of the following is called book of original entry?
Correct!
Wrong!
Which one of the following is used to record financial transactions in date wise order?
Correct!
Wrong!
Which of the following accounts would be increased with a debit?
Correct!
Wrong!
Purchased goods from Ahmed for cash should be credited to?
Correct!
Wrong!
Which of the following account will be credited in the books of XYZ Co. Ltd, if the business purchased a vehicle though cheque?
Correct!
Wrong!
Journal Entry (11-20)
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Related Questions
Journal Entry Questions
Related Problems
Journal Entry Exam Questions
Journal Entry Proforma Exercises
References
Mukharji, A., & Hanif, M. (2003). Financial Accounting (Vol. 1). New Delhi: Tata McGraw-Hill Publishing Co.
Narayanswami, R. (2008). Financial Accounting: A Managerial Perspective. (3rd, Ed.) New Delhi: Prentice Hall of India.
Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.
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