A. Journal entry
B. Multi entry
C. Additional entry
D. Compound entry
Correct Answer: Compound entry ✔
Last Updated: July 30, 2017
Related MCQs
- The other name of journal is__________?
- Discount allowed is a kind of deduction from__________?
- Every business transaction affects at least ________ accounts?
- The process of recording transactions in different journals is called_________?
- General journal is a book of _______ entries?
- The process of recording is done?
- Assets-Liabilities=__________?
- Current assets – Current liabilities=?
- An increase in provision for bad debt will__________?
- Depreciation decreases__________?
- If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?
- Which of following best describes the increase in equity expands__________?
- Cash received for services rendered will__________?
- Fresh capital introduction will increase__________?
- Which of the following accounting equation is correct?
- Which of the following is the practical implementation of the accounting equation?
- Payment of expenses will ______ the assets
- Collection of account receivable will
- Net income equal to Revenues minus__________?
- If the business’s owner withdraws cash for his/her personal use what will be the effect on capital?
- If the total liabilities of a business decrease by $5000 what will be the effect on total asset?
- Capital of a business decreases if there is an increase in__________?
- Capital increases if _________ increases?
- Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
- Find out the value of assets if: Liabilities=$5000 and Capital=$1000
- The Basic accounting equation is__________?
- Which of the following is the closing balance of a ledger account?
- Which of the following accounts are closed at the end of an accounting period?
- Which of the following is a real account?
- __________ helps business to classify transactions according to their nature?
- Office equipments account is classified as _________ account?
- Building account is classified as _________ account?
- The real accounts are accounts of Assets, liabilities and __________?
- Revenue and expense accounts are referred as__________?
- Which of the following is the normal balance of a rent expense account?
- Which of the following statements is incorrect regarding capital account?
- The normal balance of liability account is__________?
- The normal balance of asset account is__________?
- The normal balance of capital account is__________?
- If debit balance is greater than creadit balance then the account blance will be__________?
- Which of the following is known as the base for preparing trial balance?
- _________ will be credited if goods are given as charity?
- If debit side of a bank account is greater than credit side it indicates which of the following?
- If credit side of a bank account is greater than the debit side, it indicates which of the following?
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- Identify the nominal account
- Double entry implies that
- Net loss occurs when__________?
- _______ the withdrawal of cash and goods by the owner of the busienss for his/her personal use?