Accounting Chp 2 Analyzing Transactions

Accounting Chp 2 Analyzing Transactions

10th - 12th Grade

19 Qs

quiz-placeholder

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Accounting Chp 2 Analyzing Transactions

Accounting Chp 2 Analyzing Transactions

Assessment

Quiz

Other

10th - 12th Grade

Medium

Created by

Cheryl Turk

Used 71+ times

FREE Resource

19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

T/F

A drawing account is increased by debits and increased by credits

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

T/F

Accounts Payable accounts are increased with a credit

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

T/F

The owner's equity account is increased on the debit side, because the owner's capital account has a normal balance on the debit side

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

T/F

Asset accounts decrease on the debit side

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

T/F

Cash is an asset account with a normal credit balance

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

T/F

Each liability account has a normal debit balance

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

T/F

Increase in revenue accounts are reorded as credits, because they increase the owner's capital account

True

False

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