Accounting CHAPTER 2

Accounting CHAPTER 2

12th Grade

46 Qs

quiz-placeholder

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Accounting CHAPTER 2

Accounting CHAPTER 2

Assessment

Quiz

Other

12th Grade

Practice Problem

Medium

Created by

MARIA VARGAS

Used 2+ times

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46 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The left side of a T account is the

debit side
credit side
normal balance side
equity side

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

If an amount is recorded on the side of a T account opposite the normal balance side, the account balance is:

increased
decreased
unaffected
correct

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The normal balance side of a liability account is the:

debit side
credit side
decrease side
left side

4.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

When an owner invests cash in a business, the owner’s capital account is:

increased by a debit
increased by a credit
decreased by a debit
decreased by a credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

When a business pays cash on account, the liability account is:

increased by a debit
increased by a credit
decreased by a debit
decreased by a credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

When cash is received from sales, the change in the owner’s equity is usually recorded

on the debit side
directly in the owner’s capital account
as interest revenue

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Increases in a revenue(Sales) account are shown on a T account’s

debit side
left side
credit side
none of these

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