Recording of accounting operations quiz

Financial Accounting Quiz

On Mar 9, 2026

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Recording of accounting operations

10 questions in 10 minutes

Pass Score 70%

1 / 10

The purchase of supplies on account should result in :

a debit to Supplies Expense and a credit to Accounts Payable

a debit to Supplies and a credit to Accounts Payable

a debit to Supplies Expense and a credit to Cash

a debit to Supplies and a credit to Accounts Receivable

2 / 10

Posting :

is an optional step in the recording process

transfers ledger transaction data to the journal

normally occurs before journalizing

transfers journal entries to ledger accounts

3 / 10

Which of the following statements about an account is true?

An account is an individual accounting record of increases and decreases in specific asset, liability, and owner’s equity items

In its simplest form, an account consists of two parts

There are separate accounts for specifc assets and liabilities but only one account for owner’s equity items

The left side of an account is the credit or decrease side

4 / 10

Accounts that normally have debit balances are :

assets, expenses, and owner’s capital

assets, owner’s drawings, and expenses

assets, liabilities, and owner’s drawings

assets, expenses, and revenues

5 / 10

Which of the following statements about a journal is false ?

It discloses in one place the complete effect of a transaction

It provides a chronological record of transactions

It helps to locate errors because the debit and credit amounts for each entry can be readily compared

It is not a book of original entry

6 / 10

The expanded accounting equation is :

Assets = Liabilities - Owner’s Capital - Owner’s Drawings - Revenues - Expenses

Assets + Liabilities = Owner’s Capital + Owner’s Drawings + Revenues + Expenses

Assets = Liabilities + Owner’s Capital + Owner’s Drawings + Revenues - Expenses

Assets = Liabilities + Owner’s Capital - Owner’s Drawings + Revenues - Expenses

7 / 10

A ledger :

contains only asset and liability accounts

is a book of original entry

should show accounts in alphabetical order

is a collection of the entire group of accounts maintained by a company

8 / 10

The order of the accounts in the ledger is :

owner’s capital, assets, revenues, expenses, liabilities, owner’s drawings

assets, liabilities, owner’s capital, owner’s drawings, revenues, expenses

revenues, assets, expenses, liabilities, owner’s capital, owner’s drawings

assets, revenues, expenses, liabilities, owner’s capital, owner’s drawings

9 / 10

Which of the following is not part of the recording process ?

Analyzing transactions

Entering transactions in a journal

Preparing a trial balance

Posting transactions

10 / 10

A trial balance will not balance if :

the purchase of supplies on account is debited to Supplies and credited to Cash

a $10 cash drawing by the owner is debited to Owner’s Drawings for $100 and credited to Cash for $10

a $450 payment on account is debited to Accounts Payable for $45 and credited to Cash for $45

a correct journal entry is posted twice

Your score is

Question topics

Debits and credits

The Journal –The Ledger – Posting

Chart of accounts –The trial balance