Chapter 2 Accounting

Chapter 2 Accounting

11th Grade

32 Qs

quiz-placeholder

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Chapter 2 Accounting

Chapter 2 Accounting

Assessment

Quiz

Mathematics

11th Grade

Practice Problem

Easy

Created by

Jorge Gutierrez

Used 7+ times

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32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An amount recorded on the left side of an account is a:

Credit

Debit

Balance

Liability

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An accounting device used to analyze transactions is called a:

Ledger

T Account

Balance Sheet

Trial Balance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The normal balance of an asset account is:

Debit

Credit

Left or right, depending on the account

None of these

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which side of the accounting equation shows liabilities and owner's equity?

Left side

Right side

Both sides

Neither side

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of an asset?

Accounts Payable

Supplies

Owner’s Capital

Sales

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Increases in revenue accounts are recorded on the:

Debit side

Credit side

Left side

None of these

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Decreases in asset accounts are recorded on the:

Debit side

Credit side

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