Accounitng 2nd Nine Weeks Exam

Which goes on the left side of a T account?

• Debits
• Credits
• Normal Balance
• Increase

Which goes on the rightt side of a T account?

• Debits
• Credits
• Normal Balance
• Increase

Cash is classified as an

• liability

• asset

• expense

• owners equity

A debit to an accounts payable account will ____ it

• Increase

• Decrease

Select all examples of owner's equity accounts

• cash

• owner's capital

• accounts payable

• owner's drawing

Debit is on the left and credit is on the right for ALL t accounts.

• true

• false

When you receive cash from sales, what is your debit account?

• Cash

• Accounts Receivable

• Sales

• Capital

When you pay cash for advertising, your debit is...

• Cash

• Advertising Expense

Refers to what you are selling, including all of the features, advantages and benefits that your customers can get.

• Price

• Packaging

• Promotion

• Product

It details how the proposed business will sell its product to the target consumer.

• Marketing Plan

• Financial Plan

• Organizational Plan

• Introduction