Run the bookkeeping gates

Exercise and reference answers

Questions

1. Correct

   Debit

   Choices

   1. Debit
   2. Credit
   3. Neither

2. Correct

   Credit

   Choices

   1. Debit
   2. Credit
   3. Neither

3. Correct

   Journal

   Choices

   1. Journal
   2. Ledger
   3. Trial

4. Correct

   Ledger

   Choices

   1. Journal
   2. Ledger
   3. Trial

5. Correct

   Cost

   Choices

   1. Cost
   2. Matching
   3. Disclosure

6. Correct

   Matching

   Choices

   1. Cost
   2. Matching
   3. Disclosure

Instructions

Pick the side, then the record, then the principle.

Explanation