Quiz 15: Accounts Payable Test

Take our accounts payable practice test to check out your knowledge of accounts payable used in mdct.ru.

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1. Is accounts payable a liability?
Wrong
Right!
2. What are accounts payable?
Right!
Wrong
3. If a purchase is made from a supplier on credit, the account debited is?
Right!
Wrong

4. Suppose an invoice is received for 2,000 2% 15 days, net 30 terms. What is the discount taken if paid in 14 days?
Wrong
Right!
5. When you make a cash payment to an account supplier you debit or credit accounts payable?
Wrong
Right!
6. Accounts payable is used in which ratio?
Right!
Wrong
7. A purchase return would result in a debit or credit entry to accounts payable?
Wrong
Right!
8. An accounts payable ledger account would normally have a debit or credit balance?
Right!
Wrong
9. The accounts payable subsidiary ledger should be reconciled to which account?
Right!
Wrong
10. Another name for accounts payable is?
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Wrong

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Quiz 15: Accounts Payable Test December 14th, 2016Team

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