ACCOUNTING - CHAPTER 4

ACCOUNTING - CHAPTER 4

9th - 12th Grade

•

40 Qs

quiz-placeholder

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ACCOUNTING - CHAPTER 4

ACCOUNTING - CHAPTER 4

Assessment

Quiz

•

Life Skills

•

9th - 12th Grade

•

Easy

Created by

Tami Melton

Used 4+ times

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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A(n) ---- is a tool used to analyze a business transaction's effect on an account.

T-Account

General Ledger

P-Account

Chart of Accounts

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

The left side - duh!!

The business side

Debit side

Credit side

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____ requires a debit and a credit for each transaction.

Triple-entry accounting

Single-entry accounting

There are NEVER two transactions

Double-entry accounting

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An account's ____ is always on the increase side.

Equal side

Normal balance side

Balance side

Debit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount entered on the right side of an account is a(n) ____.

right answer

right side

Credit

Debit

6.

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 Accounts

List of Accounts

Business of Accounts

Account Numbers

7.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Each account has a specific side that is its normal balance side?

True

False

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