Ch 2 quiz

Ch 2 quiz - Review Assessment: REAL QUIZ FOR CHAPTER 2...

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Review Assessment: REAL QUIZ FOR CHAPTER 2 Question 1 5 out of 5 points Which of the following group of accounts are all assets? Correct Answer: Prepaid Expenses, Buildings, Patents Question 2 5 out of 5 points An account is said to have a debit balance if Correct Answer: the amount of the debits exceeds the amount of the credits Question 3 5 out of 5 points Which of the following entries records the payment of an account payable? Correct Answer: debit Accounts Payable; credit Cash
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4 5 out of 5 points Which are the parts of the T account? Correct Answer: title, debit side, credit side Question 5 0 out of 5 points A credit signifies a decrease in Correct Answer: drawing Question 6 0 out of 5 points Of the following financial reports, which one is the one that will determine if the accounting equation is in balance? Correct Answer: Trial balance Question 7 5 out of 5 points Which of the following groups of accounts have a normal debit balance? Correct
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This note was uploaded on 10/25/2010 for the course ACT 2291 taught by Professor Leedaniel during the Summer '09 term at Troy.

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Ch 2 quiz - Review Assessment: REAL QUIZ FOR CHAPTER 2...

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