Quiz 15: Accounts Payable Test

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

Not Ready for the Accounts Payable Quiz?

If you need a refresher course on this topic you can view our tutorials on the accounts payable here.

Start the Accounts Payable Test

Click on an answer to reveal whether its Right! or Wrong

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?
Right!
Wrong

Try Another mdct.ru Quiz

The accounts payable test is one of many of our online quizzes which can be used to test your knowledge of mdct.ru, discover another at the links below.

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

You May Also Like


Related pages


common size ratio formulaconstant growth annuityaverage accounts receivable turnover ratiodiminishing balance calculatorrecording a capital leasecalculating manufacturing overheadactual normal and standard costinghow to calculate mark up percentageaccounting ledgers templatesadjusting entries for depreciationroa ratio formulatreatment of deferred tax liability in cash flow statementwhat is predetermined overhead ratewhat is controllable profitjournal entry for uncollectible accountsnet realizable value accountingcalculating contribution margin ratiodepreciation slm methodfreight prepaid definitionbank overdraft in balance sheetaccurred definitionselling and administrative expenses formulahow to find errors in trial balanceinvestment in bonds journal entrycost of ending inventory calculatorunearned revenue deferred revenuewhat is journal voucher with exampleperpetuity annuityroe return on equity formulacontra note samplereplenish petty cash fund examplediscounting of receivablesmeaning of accounts payable and receivableletter of credit accounting treatment ifrsdupont analysis roecontra receivablehow to calculate nominal annual interest ratechecking account ledger templatedepreciation using the declining-balance methoddebt equity ratio formula with exampleformula for operating leveragebookkeeping entries examplesvoucher receipt sampleinventory spreadsheet templatehow to record prepaid rent journal entryprepayment in balance sheetpetty cash on balance sheetbank gearing ratio5 types of adjusting entrieswhat is the purpose of the post closing trial balancenotes payable journal entryaccounts receivable samplevertical analysis of financial statementswhat is allowance for doubtful accountsexcel pv calculationjournal entry for impairment lossinternal controls for accounts payablesimple depreciation calculatormarkup sheetdeferred tax computationhow to record sales discount in journal entriesnormal balance of unearned revenueprepaid insurance on balance sheetallowance doubtful accountsconsignment agent meaninghow to compute debt to equity ratioproperty dividend journal entrypmt functionsgearing in accountingweighted average costingcauses of labour rate variancesl depreciation calculatorconsumable goods exampleswhat is net profit margin ratioaccounts payable skills testtrading days calculatorpayroll double entrydirect costing formuladebiting and creditinghow to calculate the ending inventory