USING ACCOUNTING SOFTWARE - Practice Mode

1) Which are the things and properties for resale that converts into cash?

Current assets Business Transaction Liabilities Purchase

Correct Answer: Current assets

2) Who receives benefits without giving money immediately but liable to pay in future?

Creditor Debtor Owner Worker

Correct Answer: Debtor

3) Which function key is used to record fund transfer between cash and bank account?

F4 F5 F6 F7

Correct Answer: F4

4) Which document is issued by the receiver of cash to the giver of cash acknowledging the cash received voucher?

Ledgers Journals Receipts Vouchers

Correct Answer: Receipts

5) What is a summarized record of all the transactions to every person, every property and every type of service?

Account Journals Ledgers Vouchers

Correct Answer: Account

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