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WorksheetsPOA Chapter 02
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
Debit means left
a)
True
b)
False
2.
An individual accounting record of increases and decreases in a specific asset, liability, or owner's equity item is called a(n)
a)
journal
b)
account
c)
ledger
d)
credit
3.
To increase an asset you would use a
a)
debit
b)
credit
4.
To increase a liability you would use a
a)
debit
b)
credit
5.
To increase an expense you would use a
a)
debit
b)
credit
6.
To decrease cash you would use a
a)
debit
b)
credit
7.
To increase accounts payable you would use a
a)
debit
b)
credit
8.
To increase owner's capital you would use a
a)
debit
b)
credit
9.
The normal balance of an account is the side that causes a(n)
a)
increase
b)
decrease
10.
The normal balance of owner's withdrawal (drawings) is a
a)
debit
b)
credit
11.
The normal balance of service revenue is a
a)
debit
b)
credit
12.
The normal balance of accounts receivable is a
a)
debit
b)
credit
13.
A transaction is entered in a
a)
general journal
b)
general ledger
c)
t-account
d)
checkbook
14.
The total of all debits must equal the total of all credits
a)
True
b)
False
15.
________ proves the mathematical equality of debits and credits after posting
a)
Trial Balance
b)
Balance Sheet
c)
Income Statement
d)
Book of Original Entry
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