Accounting Quiz 2 Welcome to your Accounting Quiz 2 The rule of debit and credit as regards.......... should be debit the debtor and credit the creditorPersonal A/cImpersonal A/cReal A/cNominal A/cDebit Voucher is prepared forCash PaymentCash ReceiptCredit transactionAll of the abovePurchase mobile phone for proprietor's son willIncrease assets and decrease CapitalIncrease assets and decrease liabilityDecrease asset and decrease CapitalDecrease Assets and decrease LiabilitiesVoucher is prepared forCash received and paidCash/Credit salesCash/Credit purchaseAll of the abovePayment of salary to Mahesh the manager willDecrease Assets and CapitalIncrease Assets and Decrease CapitalDecrease assets and increase CapitalDecrease Assets and LiabilitiesMohan spent Rs 20000 as repair on Purchase of Machine from Scarp dealer .The transaction will beIncrease and decrease AssetsIncrease and decrease CapitalDecrease Asset and CapitalIncrease and decrease LiabilityVoucher is prepared from:Document EvidenceJournal Entryledger AccountsAll of the aboveCash withdrawal by the proprietor should be credited toDrawing a/cCapital A/cProfit and loss a/cCash A/cFind the correct statementDebit the decrease in AssetsCredit the increase in expenseDebit the increase in revenueCredit the increase in capitalFind the correct statementCredit a decrease in AssetsCredit the increase in ExpenseDebit the increase in revenueCredit the increase in captialPoint out the correct equationAssets= Liabilities - CapitalAssets= Liabilities + CapitalLiabilities=Assets + CapitalCapital =Assets + liabilitesWages owing isPersonal A/cImpersonal A/cReal A/cNominal A/cCredit voucher is prepared forCash paymentCash ReceiptCredit purchaseAll of the aboveA purchase of Machine for cash should be debited toCash a/cMachine a/cPurchase a/cnone of theseRecording of transaction in theCastingPostingJournalisingRecordingInterest on DrawingIncrease assets and decrease CapitalIncrease expense and decrease liabilityIncrease and decrease capitalIncrease liability and decrease capitalGoods drawn by the proprietor from the business for personal use..Increase capital and decrease assetsIncrease assets and decrease expenseDecrease capital and decreases assetsIncrease and decrease assetsHow many sides does an account have?231None of theseRecovery of bad debts previously written offIncrease assets and revenueDecrease assets and expenseIncrease asset and capitalIncrease expense and assetsTransfer Voucher is prepared forCash PaymentCash ReceiptNon Cash TransactionNone of the aboveTime is Up!
