A debit will reduce ___, but increase _?

Common stock; prepaid insurance

Revenues; accounts payable

Accounts receivable; accounts payable

Accounts payable; common stock

Correct! Wrong!

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

Decrease the account balance

Increase the account balance

Decrease or increase the account balance

Decrease & increase the account balance

Correct! Wrong!

The payment of cash to supplier will?

Increase payable and reduce cash balance

Increase receivables and reduce cash balance

Reduce cash balance and reduce current liabilities

Reduce account payable and increase purchases

Correct! Wrong!

How the debit side of journal effect?

Introduce owner equity

Increase in Asset

Increase in liability

Decrease in Asset

Correct! Wrong!

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

Account receivable

Owner capital

Debtors

Creditors

Correct! Wrong!

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

Net income

Expense

Revenue

Assets

Correct! Wrong!

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

The account of sohail

No entry passed

Cash account

Salary account

Correct! Wrong!

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

Drawing

Assets

Expense

Revenue

Correct! Wrong!

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

Purchase of office equipment on credit

Repayment of bank loan

Payment of wages

Payment of accounts payable

Correct! Wrong!

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

Two accounts

Debit and credit side of the same amount

The same side of the same account

Only debits side

Correct! Wrong!

Accounting Variation Proforma 1-10

Super Excellent ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Variation Proforma 1-10

A debit will reduce ___, but increase _?

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

The payment of cash to supplier will?

How the debit side of journal effect?

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

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

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

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

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

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

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Accounting Variation Proforma 1-10

A debit will reduce _____________________________, but increase ___________________________?

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

The payment of cash to supplier will?

How the debit side of journal effect?

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

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

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

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

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

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

Submit a Comment Cancel reply

Search

A debit will reduce ___, but increase _?