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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define a journal entry.
💡 Hint: Think about what information you would need to record a transaction.
Question 2
Easy
What system does the journal follow in recording transactions?
💡 Hint: Remember, what does double-entry mean in accounting?
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 in accounting?
- To summarize transactions
- To record transactions chronologically
- To create a trial balance
💡 Hint: Think about where transactions are first recorded.
Question 2
True or False: A Journal entry can only have one debit and one credit.
- True
- False
💡 Hint: Reflect on the types of entries we've discussed.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
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.
Question 2
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.
Challenge and get performance evaluation