Acme Collins School

Q1. Whose responsibility is it to prepare a trial balance?

Cashier
Bookkeeper
Auditor
Accountant

Q2. Which entry is entered on the right side of any account?

Journal entry
Double entry
Credit entry
Debit entry

Q3. What is an internal document which is used as evidence to show that the total of all the balances in debt is equal to the amount of all the credit balances called?

Trial balance
Income statement
Balance sheet
None of the above

Q4. Where are transactions first recorded in manual bookkeeping system?

Journal
All of the above
Cash book
Ledger

Q5. What is bookkeeping known as when every transaction involves two accounts?

Quadruple entry bookkeeping
Double entry bookkeeping
Triple entry bookkeeping
Single entry bookkeeping

Q6. Which part of the journal includes accounts amounts as well as the dates of transactions?

Entry
Number
Voucher
Book

Q7. How does debit affect the balance in any liability account?

It increases the amount
It decreases the amount
There is no difference seen.
It accumulates the amount

Q8. Where is the amount in a journal of a manual bookkeeping system posted

Reports
Accounts
Ledger
Loss and profit

Q9. Which entry is entered on the left side of any account?

Journal entry
Double entry
Debit entry
Credit entry

Q10. What contains all the accounts information including expenses, supplies, rent, and interest to be paid?

All of the above
Sales ledger
General ledger
Purchase ledger

Bookkeeping

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