
Accounting 201 Chapter 2 double-entry system
Authored by Qing Kovarik
Business
University
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is true about T accounts?
The left side of a T account is called the credit side.
The right side of a T account is called the debit side.
The left side of a T account is called the debit side.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A list of the accounts used by a business is called the
chart of accounts
T chart
journal
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following groups of accounts increases with a credit?
Liabilities and expenses
Capital and drawing
Revenues and capital
Assets and liabilities
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A credit may signify a
decrease in liabilities
decrease in revenue
decrease in capital
decrease in assets
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In which of the following types of accounts are decreases recorded by debits?
assets
liabilities
expenses
drawing
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following accounts are debited to record increases
drawing and liabilities
assets and expenses
expenses and liabilities
assets and liabilities
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following groups of accounts have a normal debit balance?
Capital and assets
Assets and expenses
Liabilities and capital
Revenues, liabilities, and capital
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