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Chapter 2

10 Questions  I  By Mmccloe
Chapter 2
Multiple choice and short answer questions.

  
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Question Excerpt

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1.  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.
B.
2.  6. Creditsa. decrease both assets and liabilitiesb. decrease assets and increase liabilitiesc. increase both assets and liabilitiesd. increase assets and decrease liabilities
A.
B.
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.
B.
4.  9. A credit is not the normal balance for which account listed below?a. Capital accountb. Revenue accountc. Liability accountd. Drawing account
A.
B.
5.  8. The normal balance of any account is thea. left sideb. right sidec. side which increases that accountd. side which decreases that account
A.
B.
6.  1. The left side of an account is:a. blankb. a description of the accountc. the debit sided. the balance of the account
A.
B.
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.
B.
8.  2. Which one of the following is not a part of an account?a. Credit sideb. Trial balancec. Debit sided. Title
A.
B.
9.  10. A debit is not the normal balance for which account listed below?a. Drawingb. Cashc. Accounts Receivabled. Service Revenue
A.
B.
10.  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.
B.
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