Account Classifications

Account Classifications

Assessment

Flashcard

Other

9th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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12 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Classification of "cash?" Options: Liability, Owner's Equity, Asset, Revenue

Back

Asset

2.

FLASHCARD QUESTION

Front

What is the increase side of the owner's capital account?

Back

Credit

3.

FLASHCARD QUESTION

Front

Classification of Accounts Payable--Staples? (Options: Asset, Liability, Owner's Equity, Expense)

Back

Liability

4.

FLASHCARD QUESTION

Front

What is the decrease side of Accounts Payable--Clark Company?

Back

Debit

5.

FLASHCARD QUESTION

Front

What is the increase side of Accounts Receivable--Little Tykes Nursery? Options: Debit, Credit

Back

Debit

6.

FLASHCARD QUESTION

Front

Classification of the owner's capital account: Revenue, Expense, Owner's Equity, Asset

Back

Owner's Equity

7.

FLASHCARD QUESTION

Front

Classification of the owner's drawing account: Revenue, Expense, Owner's Equity, Liability

Back

Owner's Equity

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