Practice - Meaning of Journal
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Practice Questions
Test your understanding with targeted questions
Define a journal entry.
💡 Hint: Think about what information you would need to record a transaction.
What system does the journal follow in recording transactions?
💡 Hint: Remember, what does double-entry mean in accounting?
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the primary purpose of a Journal in accounting?
💡 Hint: Think about where transactions are first recorded.
True or False: A Journal entry can only have one debit and one credit.
💡 Hint: Reflect on the types of entries we've discussed.
1 more question available
Challenge Problems
Push your limits with advanced challenges
You purchase office supplies worth ₹2,500 but pay only ₹1,000 in cash. What will be your journal entry?
💡 Hint: Consider how much is paid in cash and what remains as payable.
Assume you have an adjusting entry at the end of the period for ₹750 of unpaid rent. What would you record?
💡 Hint: Think of the expense incurred but not yet settled.
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