FABM1 Normal Balance of Major Accounts
Flashcard
•
Business
•
11th Grade
•
Practice Problem
•
Easy
Marione Fauni
Used 4+ times
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18 questions
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1.
FLASHCARD QUESTION
Front
What is the normal balance of asset accounts?
Back
Debit
2.
FLASHCARD QUESTION
Front
What is the normal balance of liability accounts?
Back
Credit
3.
FLASHCARD QUESTION
Front
What is the normal balance of equity accounts?
Back
Credit
4.
FLASHCARD QUESTION
Front
What is the normal balance of drawing accounts?
Back
Debit
5.
FLASHCARD QUESTION
Front
What is the normal balance of revenue accounts?
Back
Credit
6.
FLASHCARD QUESTION
Front
What is the normal balance of expense accounts?
Back
Debit
7.
FLASHCARD QUESTION
Front
How do asset accounts increase?
Back
Debit
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