Accounting Principles Quiz

To decrease the account balance of a liability account, you would.....

• debit the account

• credit the account

• increase the account balance

• close the account

To decrease the account balance of the owner's capital account, you would.....

• credit the account

• debit the account

• increase the account balance

• close the account

To decrease the account balance of an expense account, you would.....

• credit the account

• debit the account

• increase the account balance

• close the account

To increase the account balance of an owner's capital account, you would.....

• close the account

• debit the account

• withdraw from the account

• credit the account

To increase the account balance of a sales account, you would.....

• withdraw from the account

• debit the account

• credit the account

• close the account

To decrease the account balance of a sales account, you would.....

• debit the account

• credit the account

• increase the account balance

• close the account

To increase the account balance of an asset account, you would.....

• close the account

• credit the account

• debit the account

• transfer the account

To increase the account balance of a liability account, you would.....

• close the account

• debit the account

• withdraw from the account

• credit the account

To decrease the account balance of an asset account, you would.....

• credit the account

• debit the account

• increase the account balance

• close the account

What is the normal balance of the Accounts Payable account?

• Expenses

• Debit

• Assets

• Credit