Financial AccountingExercise- The Accounting Cycle

1. Which of the following account balance/s is/are shown on credit side of Trial Balance? (It is assumed that all account balances are shown on normal balance)

2. In an account if debit side > credit side, the balance is known as the

3. Which of the following voucher is used to record receipt of cash?

4. Amount generated from sales in a business is called

5. Which of the following account balance is shown on credit side of Trial Balance? (It is assumed that all account balances are shown on normal balance)

6. From all of the given options which of the following voucher is used to record transactions that do not affect bank & cash?

7. Which of the following item is found in a Journal entry? (1) Date of each transaction (2) Rupee amount of each debit and credit (3) Explanation of each transaction

8. In which of the following all vouchers are first recorded___________.

9. What is the next step to Journalizing in Accounting cycle?

10. In an account if credit side > debit side, the balance is known as