Level 2 C & G Accounts Week 2

In a business, which account category would EQUIPMENT fall into

• EXPENSES

• SALES

• ASSETS

• LIABILITIES

Is an ASSET posted as a debit or a credit?

• DEBIT

• CREDIT

ARE Drawings posted as a debit or a credit?

• DEBIT

• CREDIT

Which account category would ACCOUNTS RECEIVABLE fall into?

• EXPENSES

• ASSETS

• LIABILITIES

• PURCHASES

Which account category would WAGES fall into?

• EXPENSES

• ASSETS

• LIABILITIES

• PURCHASES

What category does ACCOUNTS PAYABLE belong to?

• ASSETS

• EXPENSES

• LIABILITIES

• CAPITAL

Is an EXPENSE posted as a debit or a credit?

• DEBIT

• CREDIT

Is an LIABILITY posted as a debit or a credit?

• DEBIT

• CREDIT

Is an CAPITAL posted as a debit or a credit?

• DEBIT

• CREDIT

What category does PAYABLES

belong to?

• ASSETS

• EXPENSES

• LIABILITIES

• CAPITAL