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Journal Entries of Real Estate Companies Test Online


There are lots of benefits of online tests. One of great benefit of online test that it increases the understanding of any topic. We can understand better if we have given the challenge in the form of test to verify our understanding. It makes us solid. If we fail in it, we happy to study again. So, yesterday, I taught Journal Entries of Real Estate Companies. If you are regular reader, you read it. So, today, I am taking your objective type test which will increase your power of understanding.

Question : 1. Insurance of employees is the part of

a) Operating expenses of real estate company
b) Advertising expenses of real estate company
c) Sales expenses of real estate company
d) Salaries and wages expenses of real estate company

Question : 2. Which is not the revenue of Real Estate Company

a) Technical Repair of Machine service fees.
b) Residential Property Sales Revenue
C) Residential Property Leasing Revenue
d) Commercial Property Sales Revenue

Question : 3. Which is correct entry for buying new property?

a) Residential Property Purchase Account Debit
Commercial Property Purchase  Account Credit
Bank Account / Loan Account / Account Payable Account Credit

b) Residential Property Purchase Account Debit
Commercial Property Purchase  Account Debit

Bank Account / Loan Account / Account Payable Account Credit

c) Residential Property Purchase Account Debit
Commercial Property Sale Account Debit

Bank Account / Loan Account / Account Payable Account Credit

d) Residential Property Sale Account Debit
Commercial Property Purchase  Account Debit

Bank Account / Loan Account / Account Payable Account Credit


Question : 4. Which is Correct entry for repaying the loan through bank

a) Loan Account / Account Payable Account Debit

Bank Account Debit 

Commercial property sale account Credit 

b) Bank Account Debit


 Loan Account / Account Payable Account Credit


c) Loan Account / Account Payable Account Debit

Bank Account Credit 

d) Loan Account / Account Payable Account Debit

Bank Account Debit 

Interest Account Credit 

Question : 5. Which is Correct entry for recording of revenue of Real Estate Company?

a) Bank Account / Account Receivables Debit 

Residential Property Sales Revenue Account Credit 

b) Residential Property Sales Revenue Account Debit 

Bank Account / Account Receivables Credit 


c)  Bank Account / Account Receivables Debit 

Residential Property Sales Revenue Account Debit 

Capital Account Credit 

d)  Bank Account / Account Receivables Debit 

Residential Property Sales Revenue Account Debit 

Loan from Bank Account Credit 

Answers : 1. (d) 2. (a) 3 (b) 4. (c) 5. (a)

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Accounting Education: Journal Entries of Real Estate Companies Test Online
Journal Entries of Real Estate Companies Test Online
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