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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the fundamental principle of the Double Entry System?
💡 Hint: Think about how transactions affect accounts.
Question 2
Easy
Define Debit.
💡 Hint: Consider how it affects accounts.
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
In the Double Entry System, how many accounts are affected for every transaction?
- One
- Two
- Three
💡 Hint: Consider the meaning of double entry.
Question 2
True or False: The accounting equation is Assets = Liabilities - Capital.
- True
- False
💡 Hint: Recall the basic principle of accounting.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company received ₹15,000 in cash for services rendered. How do you record this in the Double Entry System?
💡 Hint: Identify which accounts are involved in this transaction.
Question 2
If a business borrows ₹25,000 from the bank, what entries are required in the Double Entry System?
💡 Hint: Think about what the business receives and what it owes.
Challenge and get performance evaluation