An amount recorded on the right side of a T account is a debit.
Accounting Chapter 2

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Life Skills
•
9th Grade - University
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
FALSE
2.
FLASHCARD QUESTION
Front
Each liability account has a normal debit balance. TRUE or FALSE?
Back
FALSE
3.
FLASHCARD QUESTION
Front
Asset accounts decrease on the credit side.
Back
TRUE
4.
FLASHCARD QUESTION
Front
Each transaction changes the balances in at least two accounts.
Back
TRUE
5.
FLASHCARD QUESTION
Front
When cash is paid for supplies, the Supplies account is increased by a credit.
Back
FALSE
6.
FLASHCARD QUESTION
Front
A drawing account is increased by debits and decreased by credits.
Back
TRUE
7.
FLASHCARD QUESTION
Front
Increases in expense accounts are recorded as debits because they decrease the owner’s capital account.
Back
TRUE
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