What type of an account is cash?

• ASSET

• LIABILITIES

• OWNER'S EQUITY

Assets=Liabilities+Owner's Equity is the accounting equation

• TRUE

• FALSE

What type of an account is Accounts Payable?

• ASSET

• LIABILITIES

• OWNER'S EQUITY

The accounting equation must always be

• balanced

• uneven

• zero

• equal to the square root of 5

Double entry in accounting means there must be at more than ........ entry/entries for every transaction?

• two

• Three

• six

• one

What type of an account is Capital?

• ASSET

• LIABILITIES

• OWNER'S EQUITY

Assets increase on the ________ side?

• subsidiary

• T-account

• credit

• debit

assets decreases on the _______ side?

• debit

• two

• credit

• sixth

________ are debts of the business?

• assets

• liabilities

• owners equity

• vehicles

Equipment are an example of an/a ______?

• loan

• asset

• liability

• owners equity