This document contains a series of true/false statements about basic accounting concepts and procedures. Specifically, it addresses entering transaction dates and amounts in journals, debit/credit columns, chronological ordering, general journal posting, double-entry bookkeeping, compound journal entries, and post references.

1. 10 20
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1 2

2. The date on which the
transactions have taken
place is entered in the date
column.
True False

3. The amount to be credited is
entered in the debit column.
True False

4. All entries must be
chronologically arrange.
True False

5. The amount to be debited is
entered in the debit column
True False

6. Posting is the process of
entering a transaction in a
general journal.
True False

7. An entries are always entered
into the debit column.
True False

8. A financial data taken usually
from a journal voucher.
True False

9. Journalizing is the recording of
transactions using the double-
entry system.
True False

10. A compound journal entry is
an accounting entry which
effects more than two
account heads.
True False

11. Post reference helps
accountants track the origin of
a transaction when the books
are out of balance.
True False