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Accounting Chapter 4 Review

Authored by Susan Dixon

Business

10th - 12th Grade

Used 18+ times

Accounting Chapter 4 Review
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26 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A tool used to analyze a business transaction's effect on an account.

Chart of Accounts

Business Transaction

Ledger

T Account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount entered on the left side of an account

Credit

Debit

Normal Balance

Decrease Side

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This requires a debit and a credit for each transaction

Chart of Accounts

Double Entry Accounting

Ledger

T Account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is always on the increase side of an account

Credti

Debit

Normal Balance

Decrease Side

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount entered on the right side of an account

Credit

Debit

Increase Side

Decrease Side

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An "official" list of all the accounts used by a business to record its transactions.

Chart of Accounts

Ledger

T Accounts

Double Entry Accounting

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The normal balance for asset accounts

Debit

Credit

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