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Chapter 2

10 Questions
Accounting Quizzes & Trivia

Multiple choice and short answer questions.

Questions and Answers
  • 1. 
    1. The left side of an account is:a. blankb. a description of the accountc. the debit sided. the balance of the account
    • A. 

      The debit side

    • B. 

      The balance of the account

  • 2. 
    2. Which one of the following is not a part of an account?a. Credit sideb. Trial balancec. Debit sided. Title
    • A. 

      Trial Balance

    • B. 

      Title

  • 3. 
    3. An account is a part of the financial information system and is described by all except which one of the following?a. An account has a debit and credit sideb. An account is a source documentc. an account may be part of a manual or a computerized accounting systemd. An account has a title
    • A. 

      An account is a source document

    • B. 

      An account has a title

  • 4. 
    4. The right side of an accounta. is the correct sideb. reflects all transactions for the accounting periodc. shows all the balances of the accounts in the systemd. is the credit side
    • A. 

      Is the credit side

    • B. 

      Balance side

  • 5. 
    5. A T-account isa. A way of showing the basic form of an accountb. what the computer uses to organize bytes of informationc. a special account used instead of a trial balanced. used for accounts that have both a debit and credit balance
    • A. 

      A way of showing the basic form of an account

    • B. 

      None of the above

  • 6. 
    6. Creditsa. decrease both assets and liabilitiesb. decrease assets and increase liabilitiesc. increase both assets and liabilitiesd. increase assets and decrease liabilities
    • A. 

      Decrease assets and increase liabilities

    • B. 

      None of the above

  • 7. 
    7. A debit to an asset account indicatesa. an errorb. a credit was made to a liability accountc. a decrease in the assetd. an increase in the asset
    • A. 

      An increase in the asset

    • B. 

      None of the above

  • 8. 
    8. The normal balance of any account is thea. left sideb. right sidec. side which increases that accountd. side which decreases that account
    • A. 

      Side which increases that account

    • B. 

      Only one above

  • 9. 
    9. A credit is not the normal balance for which account listed below?a. Capital accountb. Revenue accountc. Liability accountd. Drawing account
    • A. 

      Drawing account

    • B. 

      An asset account

  • 10. 
    10. A debit is not the normal balance for which account listed below?a. Drawingb. Cashc. Accounts Receivabled. Service Revenue
    • A. 

      Service Revenue

    • B. 

      Accounts Payable