Cash Book Q&A

Test your knowledge of cash books by answering the 6 short questions given below. We suggest that you try to answer each question yourself before clicking on the “See answer” button. If you run into any difficulties when answering these questions, you should read our cash book article in the explanation section of this website. 2. What are the different kinds of cash book? See answer 4. What is s…

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Introduction to Accounting – Q&A

Can you answer these 29 questions covering topics from an Introduction to Accounting course? If you find it difficult to answer any questions, read our short article on Introduction to Accounting. 2. What is bookkeeping? See answer 4. What is a business transaction? See answer 6. What is capital? See answer 8. What are assets? See answer 10. What is an account? See answer 12. What is a trade disco…

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Depreciation Q&A

Test your knowledge of depreciation by answering the 10 short questions given below. We recommend attempting to answer each question yourself before revealing the answer. If you find these questions challenging, read our article on depreciation to learn more and get to grips with this important accounting topic. 2. State three objectives of providing depreciation. See answer 4. What is scrap value…

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General Ledger Q&A

Test your learning about the general ledger by answering the 10 short questions given below. We suggest that you try to answer each question yourself before clicking on the “See answer” button. If you find it difficult to answer any of these questions, read the article on the general ledger from the explanation section of this website. 1. What is a ledger? See answer 2. What is meant by posting? S…

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General Journal Q&A

Test your knowledge of the general journal by answering the 10 short questions given below. We strongly recommend attempting to answer each question yourself before checking the answers. If you’re unsure about the answer to any of these questions, read this website’s article covering the general journal to learn more. 2. What is a journal entry? See answer 4. What is a compound journal entry? See…

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Transaction Analysis Q&A

Test your knowledge of transaction analysis by answering the 10 short questions given below. We strongly recommend attempting to answer each question yourself before revealing the answers. If you find any of these questions challenging, check out our article on transaction analysis to learn more and fill the gaps in your knowledge. 2. What types of accounts exist under the traditional classificati…

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Accounting Equation Q&A

Test your knowledge of the accounting equation by answering the 10 short questions given below. We suggest that you try to answer each question yourself before clicking on the “See answer” button. If you find it difficult to answer any of these questions, read our article on the accounting equation to learn more. 2. What is owner’s equity? See answer 4. If total liabilities are $40,000 and owner’s…

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