Accounting Quiz or Test Your Knowledge on The Recording Process

July 15th, 2010 Comments off
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Refresh or test your accounting knowledge by answering the following questions on The Recording Process:-


1.0  What is an account and its usefulness?

2.0  Define debits and credits and explain how they are used to record business transactions

3.0  Identify the basic steps in the recording process

4.0  Explain what is a journal and how it helps in the recording process

5.0  Explain what is a ledger and how it helps in the recording process

6.0  Explain what is posting and how it helps in the recording process

7.0  Explain how to prepare a trial balance

8.0  What are the purposes of preparing a trial balance?


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Financial Accounting


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