Quiz 26: Debit and Credit Accounting Quiz

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1. Started a business with cash, which account is credited?
Wrong
Right!
2. Purchased a building for cash, which account is credited?
Right!
Wrong
3. Purchased inventory from a supplier on account. Which account is credited?
Right!
Wrong
4. Sold goods to a customer for cash. Which account is credited?
Wrong
Right!

5.Goods are returned to a supplier, which account is credited?
Wrong
Right!
6. Goods are sold to a customer on account, which account is debited?
Right!
Wrong
7. Goods are returned by a customer, which account is debited?
Wrong
Right!
8. Wages for the month are paid to employees. Which account is debited?
Right!
Wrong
9. Rent for the month is paid in cash, which account is credited?
Right!
Wrong
10. The business purchased a new machine, which account is debited?
Right!
Wrong

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Quiz 26: Debit and Credit Accounting Quiz December 14th, 2016Team

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