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Accounting Debit Credit Rule
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Accounting Debit Credit Rule
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22 Questions

1. What is Insurance classified as?

2. Which side of the T-account is used to display debit?

3. What is an increase in owners equity resulting from the operation of business called?

4. What is the account balance?

5. If an Asset is decreasing it is a...?

6. What is the classification of Rent

7. How do accountants express a negative number

8. What is used to measure the profits and losses of a company?

9. What is a business owned by one person called?

10. Which Public Stock is an average of the 30 most powerful companies in the US?

11. What is a T-account used for?

12. If a liablility is decreasing is it a debit or a credit?

13. Which is a liability: Accounts Receivable or Accounts Payable?

14. What are the 4 transactions that affect the worth of a company?

15. What is a Normal Balance

16. What is a Credit?

17. A drawing account is alwasy a debit or credit?

18. What does a balance sheet calculate?

19. What does GAAP stand for?

20. What is Petty Cash?

21. What is the accounting equation?

22. What is the difference between equipment and supplies?

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