T Account Review

T Account Review

10th - 12th Grade

24 Qs

quiz-placeholder

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T Account Review

T Account Review

Assessment

Quiz

10th - 12th Grade

Practice Problem

Medium

Created by

Tina Walters

Used 385+ times

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24 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which goes on the left side of a T account?

Debits
Credits
Normal Balance
Increase

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Normal Balance always

is a debit
is a credit
increases
decreases

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which goes on the rightt side of a T account?

Debits
Credits
Normal Balance
Increase

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is true of the account balance on the side opposite the Normal Balance?

is a debit
is a credit
increases
decreases

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Each transaction affects how many T Accounts?

1
2
3
4

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the first step in analyzing a transaction?

Identify Accounts
Identify Increase/Decrease
Identify Account Type
Identify Amount

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the second step in analyzing a transaction?

Identify Accounts
Identify Increase/Decrease
Identify Account Type
Identify Amount

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