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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the Double Entry System?
💡 Hint: Think about how each transaction must reflect on both sides.
Question 2
Easy
True or False: Debits increase liabilities.
💡 Hint: Refer back to the definitions of debit and credit.
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 ensures every transaction has equal values on both sides in accounting?
- Single Entry System
- Double Entry System
- None of the Above
💡 Hint: Think about the basic principle of accounting.
Question 2
Debits increase which of the following?
- Assets
- Liabilities
💡 Hint: Recall the functions of debits in accounting.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company provides services worth ₹12,000 and receives half in cash and half on credit. What are the journal entries for this transaction?
💡 Hint: Break the transaction into parts to reflect cash and credit.
Question 2
If an owner invests ₹20,000 in cash into the business, what entries would you make?
💡 Hint: Consider how owner investments affect both cash and equity.
Challenge and get performance evaluation