Quiz 8

Accounting Terms – Beginner
Only the top 3% of users score 10/10
10 MCQs with the right answers
Helps with practice
Good luck!

Q1. _____ is the process of transferring a journal entry to a ledger.*

1 mark

Entering

Posting

Ledgering

Journalizing

Q2. _____ is the principal book of accounting.*

1 mark

Subsidiary book

Ledger

Journal

Trial balance

Q3. All operating expenses can be found in _____.*

1 mark

cash flow statement

income statement

trading account

petty cash book

Q4. _____ is money owed to a business from its customers.*

1 mark

Trade payables

Trade receivables

Debtors

Interest receivable

Q5. Journal Entry with more than one credit and/or debit is called _____ entry.*

1 mark

contra journal

complex journal

compound journal

simple journal

Q6. _____ is goods withdrawn by the owner for personal use.*

1 mark

Goods returned

Temporary withdrawals

Drawings

Capital

Q7. Arrangement of assets and liabilities in a proper order in balance sheet is called _____.*

1 mark

sorting

casting

marshalling

arranging

Q8. _____is document issued by seller to request payment from buyer.*

1 mark

Payment order

Cheque

Invoice

Credit note

Q9. _____ records all credit sales made by a business.*

1 mark

Cash book

Sales book

Sales PDF

Sales ledger

Q10. _____ is a subsidiary book where all cash/bank receipts/payments are recorded.*

1 mark

Cash book

Cash flow statement

Journal proper

Income statement

Quiz 8 – Accounting Terms – Beginner

Quiz 8

Connect & Improve AccountingOptional

Preparing Quiz Result..

Related Material

Useful Links

legal

More