Advanced Business Accounting - I - U2 -

Mechanics - SELF TEST - WEEK 2

Total points 2/5

Advanced Business Accounting - I

UNIT 2- SELF TEST

Answer all questions

please go through the Video content , resource material in Google Classroom before
attempting this test

The respondent's email (aaditya.manoj@commerce.christuniversity.in) was recorded on

submission of this form.

0 of 0 points

NAME *

Aaditya Manoj

ROLL NO *

2283701

CLASS *

1ADBA

EMAIL *

aaditya.manoj@commerce.christuniversity.in

1 0 of 1 points
 "Identify the correct choice in respect of effect of Accounting Equation" * 0/1

More expense, a debit, means less owners’ equity.

More expense, a debit, means more owners’ equity.

More dividends, a debit, means more owners’ equity.

More revenue, a credit, means less owners’ equity.

Correct answer

More expense, a debit, means less owners’ equity.

2 1 of 1 points

"Identify the correct sequence:1.Record the effects of *1/1

transactions.2.Prepare reports.3.Summarize the effects of
transactions.4. Analyze transactions."

1,2,3,4

3,2,1,4

4,1,3,2

2,1,3,4

3 0 of 1 points
 Effect on accounting equation on Sale of goods on account for more than *0/1
their cost

Decrease in liabiity and increase and decrease in revenue and expense respectively

Both Increase and decrease in assets and an increase and decrease in revenue and
expense respectively

Increase in liabiity and increase and decrease in revenue and expense

respectively

Increase in asset and increase and decrease in revenue and expense respectively

Correct answer

Both Increase and decrease in assets and an increase and decrease in revenue and
expense respectively

4 0 of 1 points

"when cash $2000 was borrowed from the bank to be paid over 12 *0/1
months with a monthlyloan payments of $178 with a portion of each
payment being attributed to interest anda portion to reducing the liability
what effect does it have on Accounting Equation"

Assets decrease by 178, Owners Equity decrease by 178, and Owners Equity is
unaffected

Assets decrease by 178, Liabilities decrease by 158, and Owners Equity decrease
by 20

"Assets decrease by 158, Liabilities decrease by 158, and Owners Equity is

unaffected

Assets decrease by 178, Owners Equity decrease by 158, and Liability decrease by
20

Correct answer

Assets decrease by 178, Liabilities decrease by 158, and Owners Equity decrease by
20

5 1 of 1 points
The effect of collecting the receivables on the accounting equation is: * 1/1

Assets increase and decrease

Assets and Liability increase

Asset and Liability decrease

Liability increase and decrease

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