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Accounting 3
Accounting 3
A) First
B) Original
C) Secondary
D) Generic
A) Posting
B) Entry making
C) Adjusting
D) Journalizing
A) One
B) Two
C) Three
D) Infinite
A) Account payable
B) Account receivable
C) Cash account
D) Discount account
A) Ledger
B) T account
C) Day book
D) Cash book
7. A journal entry in which two or more account is debited or credited
is referred as
A) Journal entry
B) Multi entry
C) Additional entry
D) Compound entry
A) 2,10
B) 10,2
C) 10,30
D) 3,15
A) Expense of business
B) Income of business
C) Loss of business
D) Abnormal loss of business
A) Source documents
B) Ledger
C) Bonds
D) Journals
12. Which of the following will be debited if a business purchases
goods on credit?
A) Cash
B) Debtor
C) Creditor
D) Purchases
A) Drawings
B) Cash
C) Business
D) Stock
A) Book of entries
B) Book of original entries
C) T account
D) Books of economic event
A) Assets column
B) Date column
C) Description column
D) Amount column
A) Alphabetical order
B) Numeric order
C) Bullets order
D) Chronological order
A) Trade discount
B) Prompt payment discount
C) Cash discount
D) Bulk discount
A) Assets accounts
B) liability accounts
C) Cash accounts
D) Revenue accounts
ANSWER:
1 C 2 B 3 D 4 B 5 B 6 C 7 D 8 A 9 C 10 A 11 A 12 D 13
A 14 B 15 A 16 D 17 D 18 C 19 B 20 A