Accounting Chapter 2 Reinforcement

Accounting Chapter 2 Reinforcement

Assessment

Flashcard

Specialty

9th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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29 questions

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1.

FLASHCARD QUESTION

Front

Is a T account an accounting device used to analyze transactions?

Back

TRUE

2.

FLASHCARD QUESTION

Front

Is the statement true or false? An amount recorded on the right side of a T account is a debit.

Back

FALSE

3.

FLASHCARD QUESTION

Front

Hannah is learning about accounting and she wonders if each asset account has a normal credit balance.

Back

FALSE

4.

FLASHCARD QUESTION

Front

Mason is learning about accounting principles and wonders if each liability account has a normal debit balance.

Back

FALSE

5.

FLASHCARD QUESTION

Front

Sophia noticed that her bank account balance increases on the same side as the normal balance side.

Back

TRUE

6.

FLASHCARD QUESTION

Front

Do asset accounts decrease on the credit side?

Back

TRUE

7.

FLASHCARD QUESTION

Front

When Arjun transfers money from his savings account to his checking account, each transaction changes the balances in at least two accounts.

Back

TRUE

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