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SingaporeAccountingQuick questions
The Double-Entry System
Quick questions on Debits and credits: N(A)-Level Principles of Accounts
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
State the side used to record an increase in a liability. [1 mark]
What is q2?Show answer
A business receives \2\,000$ rent from a tenant (rent received). State the debit and credit. [2 marks]
What is q3?Show answer
Explain why debiting the cash account does not mean cash has left the business. [2 marks]
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