Accounting Unit test

What is the effect of a debit on an asset account? (KN)

Which of the following accounts normally has a debit balance? (KN)

What is the result when debits and credits are equal and opposite? (KN)

What is the effect of a credit on a liability account? (KN)

What is the normal balance of a revenue account? (KN)

Which of the following assumptions is the basis for recording accounts in the currency of the country? (KN)

What is the purpose of the matching principle in accounting? (KN)

What is the purpose of the accounting entity assumption in accounting? (KN)

What is the purpose of the periodicity assumption in accounting? (KN)

What is the purpose of the historical cost principle in accounting? (KN)

What is the value of the supplies on hand at the year-end? (App)

What is the correct account to credit for the $2000 received from a customer for work to be done in January? (App)

What is the total of the late-arriving invoices for the 20-4 fiscal period? (App)

Calculate the Insurance Expense account total at the year-end. (App)

Calculate the Supplies Expense account value for end of year. (App)

Calculate the closing total of Supplies Expense (App)

Calculate the Insurance Expense for the end of year. (App)

What is the depreciation rate used for the equipment? (TH)

Calculate Depreciation Expense for the end of year (TH)

Calculate the Accumulated Depreciation Equipment total for the end of year. (TH)

What is the general journal entry to remove the opening Merchandise Inventory from the ledger? (TH)

What is the general journal entry to record the closing Merchandise Inventory stock take figure inro the ledger? (TH)

Calculate the Cost of Goods Sold for Butcher Merchandise Shop. (TH)

Select the correct answer to replace Block A

Select the correct answer to replace Block B

Select the correct answer to replace Block C

Select the correct answer to replace Block D

Select the correct answer to replace Block A

Select the correct answer to replace Block B

Select the correct answer to replace Block C

Select the correct answer to replace Block D