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Ch 4 Accounting Review

Authored by Tamara Haight

Business, Life Skills

11th - 12th Grade

25 Questions

Used 30+ times

Ch 4 Accounting Review
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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

double-entry accounting

normal balance

chart of accounts

T chart

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Requires a debit and a credit for each transaction

double-entry accounting

normal balance

chart of accounts

T chart

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is always on the increase side of an account.

double-entry accounting

normal balance

chart of accounts

T chart

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

double-entry accounting

normal balance

chart of accounts

T chart

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount entered on the right side of an account

credit

debit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount entered on the left side of an account

credit

debit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The top of the T account is used for account titles. Credits are entered on the left side of the T; debits, on the right.

True

False

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