Understanding Capital Accounts and T Accounts
Authored by Kevin Fruit
Business
9th - 12th Grade
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The right side of the T account is the...
Debit Side
Credit SIde
Normal Balance Side
Equity Side
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The normal balance side of an asset account is the...
Debit Side
Credit Side
Decrease Side
Right Side
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the Owner invests cash into the business, the owner's capital account is...
Increased by a debit
Increased by a credit
Decreased by a debit
Decreased by a credit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a business pays cash on account, a liability account is...
Increased by a debit
Increased by a credit
Decreased by a debit
Decreased by a credit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When cash is received from sales, the change in the owner's equity is usually...
Recorded in a separate revenue account
recorded directly in the owner's capital account
recorded as interest revenue
always recorded on the debit side
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Increases in a revenue account are shown on a T account's...
Debit side
Credit side
Left Side
None of these
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The normal balance side of any expense account is the...
Debit side
Credit Side
Right Side
None of these
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