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Accounting I Chapter 2 M/C

Authored by Michele Moore

Other

9th - 12th Grade

Used 12+ times

Accounting I Chapter 2 M/C
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The normal balance side of any expense account is the

debit side
credit side
right side

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Increases in a revenue account are shown on a T account's

debit side
credit side
left side

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The left side of a T account is the

debit side
credit side
normal balance side
equity side

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a business receives revenue, Sales is 

increase by a debit
increased by a credit
decreased by a deibt
decreased by a credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The normal balance side of a liability account is the

debit side
credit side
left side

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a business pays cash on account, a liability account is

increased by a debit
increased by a credit
decreased by a debit
decreased by a credit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the owner withdraws cash, the owner's drawing account is 

increased by a debit
increased by a credit
decreased by a debit
decreased by a credit

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