Quiz 44: Cash Receipts and Payments Transactions Quiz

Test your knowledge of mdct.ru with our cash receipts and payments transactions quiz.

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1. The purchase of inventory for cash includes what type of entry to the cash account?
Wrong
Right!
2. The purchase of equipment includes what type of entry to the equipment account?
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Wrong
3. The repayment of a bank loan includes what type of entry to the bank loan account?
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Wrong
4. The receipt of cash from issuing notes payable includes what type of entry to the notes payable account?
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Right!

5. Preferred stock issued for cash includes what type of entry to the preferred stock account?
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Right!
6. The selling of merchandise for cash includes what type of entry to the cash account?
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Wrong
7. The selling of equipment for a profit includes what type of entry to the gain on disposal account?
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Right!
8. The payment of a supplier in cash includes what type of entry to the accounts payable account?
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9. The payment of wages includes what type of entry to the wages expense account?
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Wrong
10. The sale of equipment for cash includes what type of entry to the cash account?
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Quiz 44: Cash Receipts and Payments Transactions Quiz December 14th, 2016Team

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