Accounting T-accounts Quiz

What type of account is cash?

• Asset

• Liability

• Equity

• Expense

How do we increase an asset account?

• Debit

• Credit

• Increase

• Decrease

What type of account is capital?

• Asset

• Liability

• Equity

• Expense

How do we make a revenue account go up?

• Debit

• Credit

• Increase

• Decrease

What type of account is supplies?

• Asset

• Liability

• Equity

• Expense

How do we decrease a liability account?

• Debit

• Credit

• Increase

• Decrease

What type of account is accounts payable?

• Asset

• Liability

• Equity

• Expense

How do we make an expense account go up?

• Debit

• Credit

• Increase

• Decrease

What type of account is prepaid insurance?

• Asset

• Liability

• Equity

• Expense

How do we increase a liability account?

• Debit

• Credit

• Increase

• Decrease