Quiz Detail

Q1 . The normal balance of an asset is while the normal balance of liability is

A Debit, credit

B Credit, credit

C Debit, debit

D Credit, debit

Q2 . When an account in the asset category is decreased, it is credited.

A True

B False

Q3 . Which one of the following categories of account is debited when it is decreased?

A Liabilities

B Expenses

C Purchases

D Expenses

Q4 . Which category of accounts is credited at the time it is increased?

A Revenue

B Purchases

C Asset

D Expenses

Q5 . What does a creditor account of RM 8,500 in the double-entry system represent?

A An item of income to the business.

B An asset of the business.

C An expense of the business.

D Liability of the business.

Q6 . Which one of the following categories of account is debited when it is increased?

A Revenue

B Purchases

C Sources of fund

D Liability

Q7 . Which of the following statements about double-entry accounting is incorrect?

A Every transaction affects at least two accounts.

B Debits always increase an account balance, while credits always decrease it.

C The accounting equation (Assets = Liabilities + Equity) must always be in balance.

D Double-entry bookkeeping helps in detecting errors and preventing fraud.

Q8 . Purchase a van and pay by cheque. Debit _______ account, credit bank account.

A Vehicle

B Asset

C Loan

D None of these

Q9 . The liabilities increase by RM7000. How is the accounting equation affected?

A Assets must have increased by RM 7000, or equity must have decreased by RM 7000

B Assets must have decreased by RM 7000

C Assets and equity must have each decreased by RM 3,500

D Owners equity must have increased by RM 7000.

Q10 . Double-entry accounting reflects:

A The accruals concept

B The duality concept.

C The matching concept.

D The prudence concept.

Q11 . The normal balance of an asset is while the normal balance of liability is

A Debit, credit

B Credit, credit

C Debit, debit

D Credit, debit

Q12 . When an account in the asset category is decreased, it is credited.

A True

B False

Q13 . Which one of the following categories of account is debited when it is decreased?

A Liabilities

B Expenses

C Purchases

D Expenses

Q14 . Which category of accounts is credited at the time it is increased?

A Revenue

B Purchases

C Asset

D Expenses

Q15 . What does a creditor account of RM 8,500 in the double-entry system represent?

A An item of income to the business.

B An asset of the business.

C An expense of the business.

D Liability of the business.

Q16 . Which one of the following categories of account is debited when it is increased?

A Revenue

B Purchases

C Sources of fund

D Liability

Q17 . Which of the following statements about double-entry accounting is incorrect?

A Every transaction affects at least two accounts.

B Debits always increase an account balance, while credits always decrease it.

C The accounting equation (Assets = Liabilities + Equity) must always be in balance.

D Double-entry bookkeeping helps in detecting errors and preventing fraud.

Q18 . Purchase a van and pay by cheque. Debit _______ account, credit bank account.

A Vehicle

B Asset

C Loan

D None of these

Q19 . The liabilities increase by RM7000. How is the accounting equation affected?

A Assets must have increased by RM 7000, or equity must have decreased by RM 7000

B Assets must have decreased by RM 7000

C Assets and equity must have each decreased by RM 3,500

D Owners equity must have increased by RM 7000.

Q20 . Double-entry accounting reflects:

A The accruals concept

B The duality concept.

C The matching concept.

D The prudence concept.

Double Entry Accounting Trivia Quiz

Q1 . The normal balance of an asset is ____ while the normal balance of liability is ____

Q2 . When an account in the asset category is decreased, it is credited.

Q3 . Which one of the following categories of account is debited when it is decreased?

Q4 . Which category of accounts is credited at the time it is increased?

Q5 . What does a creditor account of RM 8,500 in the double-entry system represent?

Q6 . Which one of the following categories of account is debited when it is increased?

Q7 . Which of the following statements about double-entry accounting is incorrect?

Q8 . Purchase a van and pay by cheque. Debit _______ account, credit bank account.

Q9 . The liabilities increase by RM7000. How is the accounting equation affected?

Q10 . Double-entry accounting reflects:

Q11 . The normal balance of an asset is ____ while the normal balance of liability is ____

Q12 . When an account in the asset category is decreased, it is credited.

Q13 . Which one of the following categories of account is debited when it is decreased?

Q14 . Which category of accounts is credited at the time it is increased?

Q15 . What does a creditor account of RM 8,500 in the double-entry system represent?

Q16 . Which one of the following categories of account is debited when it is increased?

Q17 . Which of the following statements about double-entry accounting is incorrect?

Q18 . Purchase a van and pay by cheque. Debit _______ account, credit bank account.

Q19 . The liabilities increase by RM7000. How is the accounting equation affected?

Q20 . Double-entry accounting reflects:

Q1 . The normal balance of an asset is while the normal balance of liability is

Q11 . The normal balance of an asset is while the normal balance of liability is