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Basic Accounting 3
"This quiz focuses on the double entry system. I will ask you some questions and you have to say whether it is debited or credited."
15 Points Per Correct Answer - No time limit
Goods bought on credit from J Roger. What is debited?
J Roger a/c
Vans bought on credit from K Logan. What is debited?
K Logan a/c
Goods sold on credit to N Hopson. What is credited?
N Hopson a/c
Goods are sold. Jack immediately pays by cheque. What is debited?
Goods purchased by us, returned to supplier J Johnson. What is credited?
Purchase returns a/c
Sales returns a/c
Goods sold returned to us by customer, T Jacob. What is debited?
Sales Returns a/c
T Jacob a/c
Goods bought by cheque. If you have bought the goods, what is credited?
The owner of a business puts money into the business. What is credited?
A loan in cash is received from D Michael. What is credited?
D Michael Loan a/c
D Michael a/c
Debit all incomes, expenses and liabilities and credit all losses, liabilities and gains. Is this statement correct?
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Compiled May 19 13