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T-account knowledge check

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

The left side of a T-account is _____________.

a)

Debit

b)

Credit

2.

The right side of a T-account is _________.

a)

Debit

b)

Credit

3.

Accounts Receivable increases in which side of a T-account?

a)

Debit

b)

Credit

4.

The owner invested additional equipment in the business, which of the following accounts should be debited?

a)

Equipment

b)

Cash

c)

Owner's, Capital

d)

Owner's, Equity

5.

The business paid advertisement in advance, which of the following account title should be credited?

a)

Cash

b)

Prepaid Advertisement

c)

Advertising Expense

d)

Accounts Receivable

6.

The owner withdrew cash from the business, which of the following account title should be debited?

a)

Owner's, Drawing

b)

Cash

c)

Owner's, Capital

d)

None of the choices is correct.

7.

Which of the following increases in debit?

a)

None of the choices is correct.

b)

Liability

c)

Revenue

d)

Capital

8.

The business made services to a client on account, which of the following should be credited?

a)

Service Income

b)

Cash

c)

Accounts Receivable

d)

Owner's, Equity

9.

Asset decreases in which side of T-account?

a)

Debit

b)

Credit

10.

Accounts Payable is an example of a liability that decreases in which side of T-account?

a)

Debit

b)

Credit

11.

If the business release a promissory note, it is under what type of account title?

a)

Notes Payable

b)

Notes Receivable

c)

Accounts Payable

d)

Accounts Receivable

12.

If the business received a promissory note, it is under what account title?

a)

Notes Receivable

b)

Notes Payable

c)

Accounts Receivable

d)

Accounts Payable

13.

Utilities expense increases in credit side of T-account.

a)

True

b)

False

14.

The business received payment of notes, which of the following account is being debited?

a)

Cash

b)

Notes Receivable

c)

Notes Payable

d)

Accounts Payable

15.

The business paid its taxes and permit to the government, which of the following accounts should be debited

a)

Cash

b)

Taxes and Licenses Expenses

c)

Prepaid Tax and Licenses

d)

None of the choices is correct.