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Q 1/22
Score 0
Amounts to be paid in the future for goods or services already acquired.
30
Accounts payable
Q 2/22
Score 0
Amounts to be received in the future due to the sale of goods or services.
30
Accounts receivable
22 questions
Q.
Amounts to be paid in the future for goods or services already acquired.
1
30 sec
Q.
Amounts to be received in the future due to the sale of goods or services.
2
30 sec
Q.
A list of accounts used by a business.
3
30 sec
Q.
The amount recorded on the right side of a T account.
4
30 sec
Q.
The amount recorded on the left side of a T account.
5
30 sec
Q.
The side of the account that is increased.
6
30 sec
Q.
An accounting device used to analyze transactions.
7
30 sec
Q.
The values of all things owned (assets) are on the accounting equations A) left side B) right side C) credit side D) none of these B
8
30 sec
Q.
The values of all equities or claims against the assets (liabilities and owner's equity) are on the accounting equation's A) left side B) right side C) debit side D) none of these
9
30 sec
Q.
An amount recorded on the left side of a T account is a A) debit B) credit C) normal balance D) none of these
10
30 sec
Q.
An amount recorded on the right side of a T account is a A) debit B) credit C) normal balance D) none of these
11
30 sec
Q.
The normal balance side of any asset account is the A) debit side B) credit side C) right side D) none of these
12
30 sec
Q.
The normal balance side of any liability account is the A) debit side B) credit side C) left side D) none of these
13
30 sec
Q.
The normal balance side of an owner's capital account is the A) debit side B) credit side C) left side D) none of these
14
30 sec
Q.
Debits must equal credits A) in a T account B) on the equation's left side C) on the equation's right side D) for each transaction
15
30 sec
Q.
Decreases in an asset account are shown on a T account's A) debit side B) credit side C) right side D) none of these
16
30 sec
Q.
Increases in an asset account are shown on a T account's A) debit side B) credit side C) left side D) none of these
17
30 sec
Q.
Decreases in any liability account are shown on a T account's A) debit side B) credit side C) right side D) none of these
18
30 sec
Q.
Increases in a revenue account are shown on a T account's A) debit side B) credit side C) left side D) none of these
19
30 sec
Q.
The normal balance side of any revenue account is the A) debit side B) credit side C) left side D) none of these
20
30 sec
Q.
The normal balance side of any expense account is the A) debit side B) credit side C) right side D) none of these
21
30 sec
Q.
The normal balance side of an owner's drawing account is the A) debit side B) credit side C) right side D) none of these
