Accounting 1

A __________ amount will appear on the left side of a T-account.

• Credit

• Debit

. What is the missing term in the break even formula below?

Break even units = Operating expenses / (Selling price – ?)

• Cost per unit

• Gross margin

• Revenue

Complete the following statement .Assets=....

• Owners equity +liabilities

• Bank + Owners equity

• Liabilities +Bank

• 35¢

• 40¢

• 5¢

• 25¢

• 20¢

• 15¢

• 3¢

• 30¢

This is the amount of your paycheck before anything is taken out.

• Gross Pay

• Net Pay

• Social Security

• Deducations

Things like income tax and social security that are taken out of your paycheck are called:

• Exemptions

• Deductions

• Bonuses

• Extras

The amount you actually get to spend that's left over is called:

• Gross Pay

• Deductions

• Net Pay

• Bonus

What question should you ask yourself to keep from impulse shopping?

• Does this make me look cute?

• Is this something that will make me popular?

• Will I be "dressed to impress" if I wear this?

• Will this item go on sale soon?

What is an ATM?

• All-Terain Machine

• Anti-Terrorist Mechanism

• Acute Testing Module

• Automatic Teller Machine