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FABM1- quiz debit and credit

Total questions: 20

Worksheet time: 11mins

Name
Class
Date
1.

If I want to increase the asset account, I will _______ the asset account.

a)

debit

b)

credit

2.

If I want to decrease the asset account, I will______ the asset account.

a)

debit

b)

credit

3.

If I want to decrease my expense account , I will_______ the expense account

a)

debit

b)

credit

4.

If I want to increase the liability account, I will _____the liability account.

a)

debit

b)

credit

5.

. If I want to increase my expense account, I will _______ the expense account.

a)

debit

b)

credit

6.

If I want to decrease the liability account. I will (debit, credit) the liability account.

a)

debit

b)

credit

7.

If I want to increase the owner’s equity account, I will (debit, credit) the owner’s equity account.

a)

debit

b)

credit

8.

If I want to decrease the revenue account, I will (debit, credit) the revenue account

a)

debit

b)

credit

9.

If I want to decrease the owner’s equity account, I will (debit, credit )the owner’s equity account

a)

debit

b)

credit

10.

If I want to increase the revenue account, I will (debit, credit) the revenue account.

a)

debit

b)

credit

11.

The normal balance of cash is credit.

a)

true

b)

false

12.

Inventory account is increased by_____.

a)

Debit

b)

credit

13.

Liam,Capital is classified as_____

a)

Assets

b)

Liabilities

c)

Owner's Equity

d)

Revenue

14.

Interest Income is classified as____

a)

Assets

b)

Liabilities

c)

Owner's Equity

d)

Revenue

15.

Advertising Expense is increased by____

a)

debit

b)

credit

16.

Purchases are classified as____

a)

Assets

b)

liabilities

c)

owner's equity

d)

expenses

17.

The normal balance of withdrawal

a)

debit

b)

credit

18.

Normal balance of salaries payable

a)

debit

b)

credit

19.

Decreases in Notes payable will be recorded in _____

a)

debit

b)

credit

20.

the whole name of your teacher is (a)   . (Complete name with middle initial xD)