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poa 02
Quiz
•
Mathematics
•
University
•
Practice Problem
•
Hard
Annette Malfoy
FREE Resource
Enhance your content in a minute
22 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements about an account is true?
In its simplest form, an account consists of two parts.
An account is an individual accounting record of increases and decreases in speci;c asset, liability, and equity items.
There are separate accounts for speci;c assets and liabilities but only one account for equity items.
The left side of an account is the credit or decrease side.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
debit
increase both assets and liabilities
decrease both assets and liabilities
increase assets and decrease liabilities
decrease assets and increase liabilities
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a revenue account
is increased by debits
is decreased by credits
has a normal balance of a debit
is increased by credits
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is the normal balance for each of the following accounts?
account receivables
debit
credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is the normal balance for each of the following accounts?
cash
debit
credit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is the normal balance for each of the following accounts?
dividends
debit
credit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is the normal balance for each of the following accounts?
account payable
debit
credit
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