Double-Entry System
Quiz
•
Business
•
12th Grade
•
Practice Problem
•
Medium
Rochelle Javier
Used 397+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A decrease to Accounts Payable is a
debit
credit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An asset account is increased with a _________.
debit
credit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase to Utilities Expense is a ____________.
debit
credit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The normal balance for Building is a __________.
debit
credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase to a revenue account is a ____________.
debit
credit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A financial statement that reports assets, liabilities, and owner's equity on a specific date.
Income Statement
Statement of Owner's Equity
Balance Sheet
Statement of Cashflows
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the items (accounts) shown in the Income Statement?
Revenues and Expenes
Assets, Liabilities and Capital
Beginning Capital, Net Income and Withdrawals
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