Search Header Logo

Accounting Chapter 4 Review

Authored by Mrs. Gavers

9th Grade

Used 14+ times

Accounting Chapter 4 Review
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount entered on the left side of an account is the _____________.

debit

normal balance

T account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An account's __________ is always on the increase side of an account.

debit

normal balance

T account

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The _________ is an "official" list of all the accounts used by a business to record its transactions.

chart of accounts

double-entry accounting

T-account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Debit and credit rules for accounts on one side of the accounting equation are mirror images of those on the other side.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An asset account appears on the right side of the accounting equation and is also increased on the right side of its T account.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Every transaction affects two or more accounts and is recorded by equal amounts of debits and credits.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business transaction can affect two accounts on the same side of the accounting equation and still leave the equation in balance.

True

False

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?