What Is Double-Entry Accounting? - Basics & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The accounting equation states that:

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 75,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime.
Already registered? Login here for access

1. The general journal records:

2. For a journal entry to be valid:

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

This quiz/worksheet combo helps you assess your knowledge of double-entry accounting and the purposes it serves today for businesses.

Quiz & Worksheet Goals

Use this worksheet and quiz to assess your knowledge of:

  • Conditions when a journal entry is valid
  • General journal records
  • Double-entry accounting
  • Different types of assets

Skills Practiced

This quiz and worksheet can help students test out the following skills:

  • Problem solving - use acquired knowledge to solve accounting practice problems
  • Interpreting information - verify that you can read information regarding double-entry accounting and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about journal records

Additional Learning

To learn more about double-entry accounting, review the corresponding lesson on What is Double-Entry Accounting? - Basics & Examples. This lesson will help you:

  • Define double-entry accounting
  • Identify different types of assets
  • Understand the format of a general journal
  • Determine what the general ledger is
  • Define contra accounts
Support