EMS0848

EMS0848

8th Grade

5 Qs

quiz-placeholder

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EMS0848

EMS0848

Assessment

Quiz

Other, Education, Business

8th Grade

Practice Problem

Hard

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Identify the Golden Rule of accounting?

Always record folios

For every Debit there is a Credit

For every Credit there is another Credit

The Debit side is on the left and the Credit side is on the right

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are General Ledger accounts commonly called?

L-accounts

G-accounts

T-accounts

GL-accounts

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Demonstrate on which side does Bank increase?

Debit

Credit

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Demonstrate on which side would an asset decrease?

Debit

Credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Which is correct regarding the recording of wages in the General Ledger?

Credit Wages and debit Bank

Debit Wages and credit Bank

Debit Bank and credit Wages

Credit Bank and debit Salaries