T Acount - Financial Accounting
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Business
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University
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a T account represent in accounting?
A ledger account
A bank account
A type of financial statement
A tax document
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Where is the account name placed in a T account?
On the left side
On the right side
Across the top
At the bottom
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a T account, what does the left side represent?
Expense
Balance
Debit
Credit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the right side of a T account called?
Debit
Liability
Credit
Asset
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the account balance determined in a T account?
By subtracting total credits from total debits
By multiplying credits and debits
By adding all credits and debits
By dividing credits by debits
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