Books of Accounts Quiz

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Questions and Answers

Which of the following is one of the three books of accounts mentioned in the text?

  • T-account (correct)
  • Balance sheet
  • Income statement
  • Statement of cash flows

Which book of accounts is used to record transactions in chronological order?

  • Journal (correct)
  • T-account
  • Ledger
  • Income statement

Which book of accounts is used to summarize and classify transactions from the journal?

  • Balance sheet
  • Statement of cash flows
  • Income statement
  • Ledger (correct)

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