Debit and Credit

Debit and Credit

9th - 12th Grade

54 Qs

quiz-placeholder

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Debit and Credit

Debit and Credit

Assessment

Quiz

Business

9th - 12th Grade

Hard

Created by

Cassie Schrage

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54 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When cash is received, the account Cash will be
Debited
Credited

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which term is associated with "right" or "right-side"?
Debit
Credit
Plus
Minus

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which term is associated with "left" or "left-side"?
Debit
Credit
Plus
Minus

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The listing of all of the accounts available for use in a company's accounting system is known as the __________.
Chart of Accounts
Journal
Ledger
Credit Ledger

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When a company pays a bill, the account Cash will be
Debited
Credited

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What will usually cause an asset account to increase?
Debit
Credit

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What will usually cause the liability account Accounts Payable to increase?
Debit
Credit

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