25-26 DC ADE LOR Game Practice

Which of the following is classified as an asset?

• Accounts Payable

• Equipment

• Unearned Revenue

• Notes Payable

What is the normal balance of an expense account?

• Credit

• Debit

Which account increases with a credit entry?

• Owner’s Capital

• Supplies

• Utilities Expense

• Inventory

Which of the following is a liability?

• Prepaid Insurance

• Loan Payable

• Dividends

• Office Furniture

What type of account is "Service Revenue"?

• Asset

• Liability

• Revenue

• Expense

Which account would decrease with a credit entry?

• Accounts Receivable

• Sales

• Notes Payable

• Retained Earnings

If you want to increase the balance of "Inventory," which type of entry would you make?

• Debit

• Credit

Which of the following accounts is classified under Owner’s Equity?

• Owner’s Drawing

• Mortgage Payable

• Petty Cash

• Delivery Expense

Which account is decreased by a debit entry?

• Sales

• Supplies

• Utilities Expense

• Cash

What is the normal balance of a liability account?

• Debit

• Credit