Accounting for AQA: Part 1: Chapter 2

Question 1 Introduction

A business using a double-entry system which buys an asset such as a computer, and pays by debit card, will make the following entries: debit bank account; credit computer account.

Question 1

Double-entry book-keeping is so called because all transactions are recorded twice in the same account.

True

False

Question 2

In double-entry book-keeping debit entries record expenses and credit entries record income.

True

False

Question 3

In double-entry book-keeping the debit entry is recorded on the left of an account and the credit entry on the right.

True

False

Question 4

In double-entry book-keeping the bank account of a business records money received on the debit side and money paid out on the credit side.

True

False

Question 5

A business using a double-entry system which buys an asset such as a computer, and pays by debit card, will make the following entries: debit bank account; credit computer account.

True

False

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Accounting for AQA: Part 1: Chapter 2

Page 1 of 2 - There are 10 questions in total.

Question 1 Introduction

Question 1

Double-entry book-keeping is so called because all transactions are recorded twice in the same account.

Question 2

In double-entry book-keeping debit entries record expenses and credit entries record income.

Question 3

In double-entry book-keeping the debit entry is recorded on the left of an account and the credit entry on the right.

Question 4

In double-entry book-keeping the bank account of a business records money received on the debit side and money paid out on the credit side.

Question 5

A business using a double-entry system which buys an asset such as a computer, and pays by debit card, will make the following entries: debit bank account; credit computer account.

AAT Q2022 Books

Accounting for AQA: Part 1: Chapter 2

Page 1 of 2 - There are 10 questions in total.

Question 1 Introduction

Question 1

Double-entry book-keeping is so called because all transactions are recorded twice in the same account.

Question 2

In double-entry book-keeping debit entries record expenses and credit entries record income.

Question 3

In double-entry book-keeping the debit entry is recorded on the left of an account and the credit entry on the right.

Question 4

In double-entry book-keeping the bank account of a business records money received on the debit side and money paid out on the credit side.

Question 5

A business using a double-entry system which buys an asset such as a computer, and pays by debit card, will make the following entries: debit bank account; credit computer account.