Today is also good news for all who have bought our Journal Entries MADE Easy eBook that we are taking their journal entries test online - part 1. With this test, they will find their mistakes because we will explain detailed answers why they have given wrong answers. It will help them to encourage further study our ebook because less marks will encourage them to increase more marks in next month test of journal entries test Online. If any student will get higher marks in this test, he or she will encourage to go next level of Our Online online tests.
Rules of Journal Entries Online Test
1. This is self assessment test. So, do not see any reference book, ebook and online or off line video tutorial. It will be like cheating. Don't cheat yourself. It will be big barrier in your growth.
2. Time of test is just 10 minutes. Write answer on notebook and email me at vinod@svtuition.org
3. Only those students can give test who enrolled by buying Journal Entries MADE Easy eBook. If you still did not enroll in this course, please enroll first by buying Journal Entries MADE Easy eBook .
4. This is second part test. In future, there will be more tests on journal entries. If you will clear our 20 tests, we will give you certificate of this as reward. Next test will be on the basis of performance of your past tests.
Question : 1. Why do we debit our debtor account when we we pay on the behalf of product's buyer
a. Because it is not our expense but it has increased our current asset.
b. Because our customer is cheater.
c. Because this is not our income, but it has decrease our current asset.
d. Non-of above
Question : 2. Why do we credit interest on drawing account credit in journal entry?
a. It is not our personal income.
b. It is our business income.
c. It will be given from business to owner of business at the end of business.
d. It is excess amount of suspense account
Question : 3. Why do we debit the account of interest on loan in journal entry?
a. It is our personal expense
b. It is income of bank.
c. It is penalty of not refunding loan.
d. It is an expense of business
Question : 4. Why do we credit decrease in asset in journal entries?
a. Because all assets have debit balance. If we will credit decrease in asset, we can deduct it in past total balance. So, our correct position of asset can be deducted.
b. there is no logic behind this.
c. Our school teacher has written this as rule.
d. Because it has increased liability.
Question : 5. Why do we Debit creditor in credit purchase return entry
a. Because we have to take the amount from creditor.
b. Because creditor is the receiver of goods.
c. Because we may forget
d. Because we it has increased our number of creditors.
Related Resource : Accounting Online Tests
