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Accounting Chapter 2 Review

Authored by Chandra Pingel

Instructional Technology

9th - 12th Grade

Used 5+ times

Accounting Chapter 2 Review
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20 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An accounting device used to analyze transactions

T Account

normal balance

chart of accounts

debit

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An amount recorded on the left side of a T account

Debit

Credit

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

An amount recorded on the right side of a T account

Credit

Debit

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The side of the account that is increased

Debit

Credit

Normal Balance

T account

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A list of accounts used by a business

T account

Normal Balance

Credit

Chart of Accounts

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The value of all things owned (assets) are on the account equation's

left side

right side

credit side

none of these

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The values of all equities or claims against the assets (liabilities and owner's equity) are on the accounting equation's

left side

right side

debit side

none of these

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