FREE ACCOUNTING AND STUDY GAMES ABOUT TVS

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FREE ACCOUNTING AND STUDY GAMES ABOUT TVS

ACCOUNTING1-2 EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -15 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Normal Balance of Accounts payable Accounts

Answer:

Credit

Question 2: Normal Balance of Expense Accounts

Answer:

Debit

Question 3: Normal Balance of Sales

Answer:

Credit

Question 4: A list of accounts used by a business

Answer:

Chart of Accounts

Question 5: Decrease side of a Liability

Answer:

Credit

Question 6: Decrease side of an Asset

Answer:

Credit

Question 7: Decrease side of Capital

Answer:

Debit

Question 8: Normal Balance of Capital

Answer:

Credit

Question 9: An amount recorded on the left side

Answer:

Debit

Question 10: An accounting device used to analyze transactions

Answer:

T-Account

Question 11: Normal Balance of Drawing

Answer:

Debit

Question 12: The side of the account that is increased

Answer:

Normal Balance

Question 13: Normal Balance of Cash

Answer:

Debit

Question 14: Normal Balance of Supplies

Answer:

Debit

Question 15: An amount recorded on the right side

Answer:

Credit