ACCOUNTING SEMESTER 1 FINAL - CH 1-6

A bank account from which payments can be ordered by a depositor:

• checking account.

• savings account

• certificate of deposit.

• banking account.

A bank form which lists the checks, currency, and coins an account holder is adding to a bank account:

• slip.

• deposit slip.

• source document.

• check.

A signature or stamp on the back of a check transferring ownership:

• endorsement.

• blank endorsement.

• special endorsement.

• restrictive endorsement.

An endorsement consisting only of the endorser's signature:

• endorsement.

• blank endorsement.

• special endorsement.

• restrictive endorsement.

An endorsement indicating a new owner of a check:

• endorsement.

• blank endorsement.

• special endorsement.

• restrictive endorsement.

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

• debit

• normal balance

• T account

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

The difference between the debit and credit amounts in an account is the account balance.

• True

• False

A decrease in an asset account is recorded as a ________.

• Debit

• Credit

The normal balance for the owner's capital account is a _____________.

• Debit

• Credit