Understanding the D.C. Aidler Accounting Equation

Understanding the D.C. Aidler Accounting Equation

Assessment

Interactive Video

Business, Professional Development

9th - 12th Grade

Hard

Created by

Ethan Morris

FREE Resource

Jonathan Dorn, a licensed CPA, introduces the fundamental accounting equation D.C. Aidler, which stands for Debit, Credit, Assets, Draw, Expenses, Liabilities, Equity, and Revenue. He emphasizes the importance of memorizing this equation as it is essential for accounting. The video explains the balance between debits and credits and breaks down the components of D.C. Aidler. Jonathan encourages viewers to subscribe for more tutorials and aims to become the strongest CPA in Florida.

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9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary focus of the CPA Strength channel?

Accounting education

Travel vlogs

Cooking tutorials

Fitness training

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the mnemonic 'D.C. Aidler' help you remember?

A list of accounting software

Different types of taxes

The steps in a financial audit

Key components of the accounting equation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the D.C. Aidler mnemonic, what does 'D' stand for?

Deposit

Debit

Dividend

Draw

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a component of the Debit side in D.C. Aidler?

Revenue

Draw

Expenses

Assets

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does 'A' represent in the D.C. Aidler mnemonic?

Assets

Accounts

Accruals

Amortization

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which component is part of the Credit side in D.C. Aidler?

Assets

Expenses

Equity

Draw

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does 'L' stand for in the Credit side of D.C. Aidler?

Leases

Liabilities

Loans

Losses

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a component of the Credit side in D.C. Aidler?

Draw

Expenses

Assets

Revenue

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the significance of the D.C. Aidler mnemonic in accounting?

It helps in memorizing tax codes

It is used for calculating interest rates

It represents the balance between debits and credits

It is a method for auditing financial statements