Which side of an account is used to record increases in assets?

Which side of an account is used to record increases in liabilities?

The rule “Debit what comes in, Credit what goes out” applies to which type of account?

The rule “Debit the receiver, Credit the giver” applies to which type of account?

The rule “Debit all expenses and losses, Credit all incomes and gains” applies to which type of account?

A person who owes money to the business is known as a:

A person to whom the business owes money is known as a:

Which of the following is an expense?

Which of the following is an income?

The account used to record the start of a business with capital is:

When goods are purchased for cash, which account is debited?

When goods are sold for cash, which account is credited?

If rent is paid in cash, which account is debited?

Which of the following transactions will affect both Cash and Capital accounts?

The account that shows all transactions relating to one person or item is called a:

The process of transferring journal entries to ledger accounts is known as:

Which of the following accounts normally has a debit balance?

Which of the following accounts normally has a credit balance?

The document used to first record a transaction is called the:

When recording a transaction in the journal, the narration explains:

The book that contains all the accounts of a business is the:

The right-hand side of a ledger account is known as the:

The left-hand side of a ledger account is known as the:

If cash is received from a debtor, which account is credited?

If cash is paid to a creditor, which account is debited?

The total of the debit side of a ledger account exceeds the credit side. The account will have a:

The total of the credit side of a ledger account exceeds the debit side. The account will have a:

The main purpose of preparing ledger accounts is to:

The next step after posting to ledger accounts is to: