Debit and Credit Skills Assessment
Authored by ASH JAIVANTH
Financial Education
9th Grade
Used 1+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the accounting equation?
Assets = Liabilities + Equity
Liabilities = Assets + Equity
Assets - Liabilities = Equity
Assets = Liabilities - Equity
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When should a debit be recorded?
When there is an increase in liabilities or revenue, or a decrease in assets or expenses.
When there is an increase in equity or income, or a decrease in liabilities or expenses.
When there is an increase in assets or expenses, or a decrease in liabilities or revenue.
When there is no change in assets, liabilities, revenue, or expenses.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When should a credit be recorded?
When there is a decrease in equity and an increase in assets
When there is an increase in liabilities or equity, or a decrease in assets.
When there is a decrease in liabilities and equity, or an increase in assets
When there is an increase in assets and a decrease in liabilities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which side of the accounting equation do debits go on?
None of the sides
Left side
Both sides
Right side
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which side of the accounting equation do credits go on?
Front side
Right side
Top side
Left side
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the normal balance for an asset account?
Credit
Debit
Negative balance
Zero balance
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the normal balance for a liability account?
Credit
Debit
Zero balance
Asset
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Classlink
Continue with Clever
or continue with
Microsoft
%20(1).png)
Apple
Others
Already have an account?
