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Accounting Equation Quiz-1
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Accounting Equation Quiz-1
Accounting Equation Quiz-1
Quiz
Purchase of Goods for cash is:-
Increase in cash and decrease in stock
Increase in stock and increase in cash
Decrease in stock and decrease in cash
Increase in stock and decrease in cash
Goods destroyed by fire costing ₹1500 selling price ₹2000.
Increase in stock by ₹2000 and increase in cash by ₹2000
Decrease in stock by ₹1500 and decrease in capital by ₹1500
Increase in stock by ₹2000 and increase in stock by ₹2000
Increase in stock by ₹1500 and decrease in creditor by ₹1500
Interest on capital provided is-
Increase in capital and increase in cash
Decrease in cash and decrease in capital
Increase in capital and decrease in assets
Increase in capital as well as decrease in capital
Goods Given as charity (Sales price ₹500) of ₹450.
Increase in debtor by ₹500 and increase in stock by ₹500
Decrease in cash by ₹500 and decrease in stock by ₹450
Decrease in stock by ₹500 and decrease in capital by ₹500
Decrease in stock by ₹450 and decrease in capital by ₹450
Purchase of furniture for cash is:-
Increase in furniture and increase in cash
Decrease in furniture and decrease in cash
Increase in cash and decrease in furniture
Increase in furniture and decrease in cash
Rent received in advance of ₹ 2000.
Increase in cash B ₹2,000 and increase in rent by ₹2000
Decrease in cash by ₹2,000 and decrease in rent ₹2000
Increase in cash by ₹ 2000 and increase in liability by ₹ 2000
Increase in cash by ₹2000 and decrease in creditor by ₹2000
Repayment of loan by cheque is-
Decrease in bank and decrease in liabilities
Decrease in cash and decrease in liabilities
Increase in asset and increase in creditor
Increase in bank and decrease in liabilities
Capital decreased when:-
Rent received
Goods purchased
Goods sold at a loss
Machinery purchased
Interest on Drawings-
Increase in cash and increase in income
Increase in capital and decrease in cash
Decrease in capital and increase in capital
Increase in cash and increase in capital
Further capital introduced is-
Increase in income and increase in cash
Increase in assets and decrease in income
Increase in cash and increase in capital
Decrease in cash and decrease in capital
Cash received from debtor is-
Increase in stock and increase in capital
Decrease in stock and decrease in capital
Decrease in debtor and increase in cash
Increase in stock and decrease in cash
Cash paid to creditor-
Increase in cash and increase in creditor
Decrease in cash and decrease in creditor
Increase in cash and increase in capital
Increase in capital and decrease in cash
Charged Depreciation on building is-
Increase in building and increase in capital
Increase in building and decrease in cash
Increase in building and increase in cash
Decrease in building and decrease in capital
Rent for the month of March not paid is-
Increase in liabilities and increase in asset
Decrease in cash and decrease in liabilities
Increase in asset and increase in cash
Increase in liabilities and decrease in capital
Insurance premium of ₹12,000 paid for one year on 1st August 2022, unexpired insurance premium is on 31st March,2023 will be-
₹ 4,000
₹ 5,000
₹ 6,000
₹ 7,000
Goods returned by customer is-
Increase in cash and increase in stock
Decrease in cash and decrease in stock
Increase in creditor and increase in stock
Increase in stock and decrease in debtor
Goods withdrawn for personal use :-
Increase in stock and increase in capital
Decrease in stock and decrease in capital
Increase in stock and increase in cash
Increase in stock and decrease in cash
Rent received is-
Increase in cash and increase in capital
Increase in cash and decrease in capital
Increase in capital and decrease in cash
Increase in liability and increase in cash
Goods returned to supplier costing ₹1000 and selling Price ₹1100.
Increase in creditor by ₹1000 and increase in stock by ₹1000
Decrease in cash by ₹1100 and decrease in stock by ₹1000
Increase in creditor by ₹1100 and increase in stock by ₹1100
Decrease in stock by ₹1000 and decrease in creditor by ₹1000
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