WorksheetsAcctg Ch 2 T Accts
Total questions: 25
Worksheet time: 21mins
Name
Class
Date
1.
The values of all things owned (assets) are on the accounting equation's
a)
left side
b)
right side
c)
credit side
d)
none of these
2.
The values of all equities or claims against the assets (liabilities and owner's equity) are on the accounting equation's
a)
left side
b)
right side
c)
debit side
d)
none of these
3.
An amount recorded on the left side of a T account is a
a)
debit
b)
credit
c)
normal balance
d)
none of these
4.
An amount recorded on the right side of a T account is a
a)
debit
b)
credit
c)
normal balance
d)
none of these
5.
The normal balance side of any asset account is the
a)
debit
b)
credit
c)
right
d)
none of these
6.
The normal balance side of any liability account is the
a)
debit side
b)
credit side
c)
left side
d)
none of these
7.
The normal balance side of an owner's capital account is the
a)
debit side
b)
credit side
c)
left side
d)
none of these
8.
Debits must equal credits
a)
in a T account
b)
on the equation's left side
c)
on the equation's right side
d)
for each transaction
9.
Decreases in an asset account are shown on a T account's
a)
debit side
b)
credit side
c)
left side
d)
none of these
10.
Increases in an asset account are shown on a T account's
a)
debit side
b)
credit side
c)
right side
d)
none of these
11.
Increases in any liability account are shown on the T account's
a)
debit side
b)
credit side
c)
left side
d)
none of these
12.
Decreases in any liability account are shown on a T account's
a)
debit side
b)
credit side
c)
right side
d)
none of these
13.
Increases in a revenue account are shown on a T account's
a)
debit side
b)
credit side
c)
left side
d)
none of these
14.
The normal balance side of any revenue account is the
a)
debit side
b)
credit side
c)
left side
d)
normal balance side
15.
Increases in an expense account are shown on a T account's
a)
debit side
b)
credit side
c)
right side
d)
none of these
16.
The normal balance side of any expense account is the
a)
debit side
b)
credit side
c)
right side
d)
none of these
17.
The normal balance side of an owner's drawing account is the
a)
debit side
b)
credit side
c)
right side
d)
none of these
18.
Increases in an owner's drawing account are shown on a T account's
a)
debit side
b)
credit side
c)
right side
d)
none of these
19.
An accounting device used to analyze transactions
a)
chart of accounts
b)
classification
c)
normal balance
d)
T account
20.
An amount recorded on the left side of an account
a)
account balance
b)
credit
c)
debit
d)
normal balance
21.
An amount recorded on the right side of an account.
a)
debit
b)
credit
c)
normal balance
d)
account balance
22.
The side of the account that is increased.
a)
debit
b)
credit
c)
normal balance
d)
account balance
23.
A list of accounts used by a business.
a)
accounts payable
b)
accounts receivable
c)
T accounts
d)
chart of accounts
24.
Amounts to be paid in the future for goods or services already acquired.
a)
accounts payable
b)
accounts receivable
c)
past due accounts
d)
outstanding accounts
25.
Amounts to be received in the future due to the sale of goods or services.
a)
accounts payable
b)
outstanding accounts
c)
accounts receivable
d)
asset accounts
100 %
