Question 1

Common accounting practice is to record withdrawals as debits directly in the owner's capital account.

Accepted Answer

A) True 
 B)False

Question 2

Increases in a revenue account are shown on a T account's

Accepted Answer

A)   debit side.
B)   left side.
C)   credit side.
D)   none of these.E) None of the above
F) B) and C)

Question 3

When an owner invests cash in a business, the owner's capital account is

Accepted Answer

A)   increased by a debit.
B)   increased by a credit.
C)   decreased by a debit.
D)   decreased by a credit.E) C) and D)
F) A) and B)

Question 4

A list of accounts used by a business is a chart of accounts.

Accepted Answer

A) True 
 B)False

Question 5

An accounting device used to analyze transactions is a T account.

Accepted Answer

A) True 
 B)False

Question 6

The left side of a T account is the

Accepted Answer

A)   debit side.
B)   credit side.
C)   normal balance side.
D)   equity side.E) None of the above
F) B) and D)

Question 7

Cash is increased with a debit.

Accepted Answer

A) True 
 B)False

Exam 2: Debit and Credit Parts

The left side of a T account is the

Correct Answer
verified

An accounting device used to analyze transactions is a T account.

Correct Answer
verified

A list of accounts used by a business is a chart of accounts.

Correct Answer
verified

Common accounting practice is to record withdrawals as debits directly in the owner's capital account.

Correct Answer
verified

When an owner invests cash in a business, the owner's capital account is

Correct Answer
verified

Cash is increased with a debit.

Correct Answer
verified

Increases in a revenue account are shown on a T account's

Correct Answer
verified

Exam 2: Debit and Credit Parts

The left side of a T account is the

Correct AnswerverifiedShow Answer

An accounting device used to analyze transactions is a T account.

Correct AnswerverifiedShow Answer

A list of accounts used by a business is a chart of accounts.

Correct AnswerverifiedShow Answer

Common accounting practice is to record withdrawals as debits directly in the owner's capital account.

Correct AnswerverifiedShow Answer

When an owner invests cash in a business, the owner's capital account is

Correct AnswerverifiedShow Answer

Cash is increased with a debit.

Correct AnswerverifiedShow Answer

Increases in a revenue account are shown on a T account's

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified