T-account knowledge check

T-account knowledge check

10th - 12th Grade

15 Qs

quiz-placeholder

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T-account knowledge check

T-account knowledge check

Assessment

Quiz

Business

10th - 12th Grade

Medium

Created by

Lucero Trangia

Used 251+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The left side of a T-account is _____________.

Debit

Credit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The right side of a T-account is _________.

Debit

Credit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounts Receivable increases in which side of a T-account?

Debit

Credit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The owner invested additional equipment in the business, which of the following accounts should be debited?

Equipment

Cash

Owner's, Capital

Owner's, Equity

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The business paid advertisement in advance, which of the following account title should be credited?

Cash

Prepaid Advertisement

Advertising Expense

Accounts Receivable

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The owner withdrew cash from the business, which of the following account title should be debited?

Owner's, Drawing

Cash

Owner's, Capital

None of the choices is correct.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following increases in debit?

None of the choices is correct.

Liability

Revenue

Capital

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