Accounting Chapter 2

Accounting Chapter 2

9th Grade - University

20 Qs

quiz-placeholder

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Accounting Chapter 2

Accounting Chapter 2

Assessment

Quiz

Life Skills

9th Grade - University

Medium

Created by

Amy McCutchen

Used 619+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount recorded on the right side of a T account is a debit.
TRUE
FALSE

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Each liability account has a normal debit balance.
TRUE
FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Asset accounts decrease on the credit side.
TRUE
FALSE

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Each transaction changes the balances in at least two accounts.
TRUE
FALSE

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When cash is paid for supplies, the Supplies account is increased by a credit.
TRUE
FALSE

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A drawing account is increased by debits and decreased by credits.
TRUE
FALSE

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Increases in expense accounts are recorded as debits because they decrease the owner’scapital account.
TRUE
FALSE

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