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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a journal in accounting?
💡 Hint: Think about the purpose of keeping a record of transactions.
Question 2
Easy
What do you call the left side of an account?
💡 Hint: Remember what happens when you increase an asset.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the primary purpose of a journal?
- To prepare financial statements
- To record transactions chronologically
- To balance books
💡 Hint: Consider what a journal's role is in the accounting process.
Question 2
True or False: A credit increases an expense account.
- True
- False
💡 Hint: Think back to what examples you've discussed regarding debits and credits.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Create a complete journal entry for a transaction where a company sells products worth 8,000 on credit.
💡 Hint: Consider which accounts are affected during a sale on credit.
Question 2
You find an error in your journal where you accidentally typed a debit amount of 1,200 instead of 1,020. How do you correct it?
💡 Hint: Think about how you can adjust the previous incorrect entry to maintain accuracy.
Challenge and get performance evaluation