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  Part 2 Gr.8 Quiz
Question Number 1
The ledger contains two parts.
A. True
B. False
Question Number 2
The ledger and subsidiary books can be purchased from any bookstore and must be registered with the BIR.
A. True
B. False
Question Number 3
The subsidiary book records cash only.
A. True
B. False
Question Number 4
Disbursement records the purchases made by the company.
A. True
B. False
Question Number 5
Salaries of workers can be computed on a daily, weekly, twice a month or monthly basis.
A. True
B. False
Question Number 6
It is the recording all the transactions arising from your business activities which you be expressed in money.
A. Debit
B. Account
C. Bookkeeping
Question Number 7
It is where you record the cash and credit sales of the company.
A. Sales Subsidiary book
B. Credit
C. Book
Question Number 8
It is where you record the cash and credit purchases made by the company.
A. Credit
B. Purchase subsidiary book
C. Payroll
D. None of the Above
Question Number 9
It is the normal balance of liabilities and owner’s equity.
A. Credit
B. Sales Subsidiary book
C. Payroll
D. None of the Above
Question Number 10
It is where you record the cash received by the company whether from sales or from credit sales.
A. Payroll
B. Ledger
C. Cash Receipts Subsidiary
D. None of the Above
Question Number 11
It is the computed salaries of workers on a daily, weekly, twice a month or monthly basis salary.
A. Payroll
B. Bookkeeping
C. Ledger
D. None of the Above
Question Number 12
It allows you to determine how much money you have earned and spent.
A. Bookkeeping
B. Bookkeeping
C. Sales Subsidiary book
D. None of the Above
Question Number 13
It is a record that contains two parts, one part is the amount received and the other is the amount spent.
A. Debit
B. Account
C. Ledger
D. None of the Above
Question Number 14
It is an accounting form of record in which the effect of similar business transactions affecting basic accounting elements or group are classified.
A. Book
B. Account
C. Purchase subsidiary book
D. None of the Above
Question Number 15
It is the normal balance of an asset.
A. Credit
B. Bookkeeping
C. Book
D. Debit
Question Number 16
It is a summary of financial balances of a company.
A. Liabilities
B. Assets
C. Balance sheet
D. Equity
Question Number 17
It is where you record the cash received by the company whether from sales or from credit sales.
A. Payroll
B. Ledger
C. Cash Receipts Subsidiary
D. None of the Above
Question Number 18
It is the computed salaries of workers on a daily, weekly, twice a month or monthly basis salary.
A. Payroll
B. Bookkeeping
C. Ledger
D. None of the Above
Question Number 19
It allows you to determine how much money you have earned and spent.
A. Bookkeeping
B. Bookkeeping
C. Sales Subsidiary book
D. None of the Above
Question Number 20
It represents value owned by the company such as equipment, goods and cash.
A. Assets
B. Balance sheet
C. Liabilities
D. None of the Above





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