Practice quiz Ch 2

Practice quiz Ch 2 - Review Assessment: PRACTICE QUIZ FOR...

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Review Assessment: PRACTICE QUIZ FOR CHAPTER 2 Question 1 5 out of 5 points The debit side of an account Correct Answer: is the left side of the account Question 2 0 out of 5 points Which statement(s) concerning cash is (are) true? Correct Answer: cash is increased by debiting Question 3 0 out of 5 points A debit signifies a decrease in
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Correct Answer: revenues Question 4 0 out of 5 points Which of the following entries records the payment of rent for the current month? Correct Answer: Rent Expense, debit; Cash, credit Question 5 5 out of 5 points Which of the following abbreviations are correct? Correct Answer: Debit “Dr”, Credit “Cr” Question 6 5 out of 5 points When amounts of a transaction are entered on the left side of an account, they are said to be
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Correct Answer: debited Question 7 0 out of 5 points The balance of the account is determined by Correct Answer: adding all of the debits, adding all of the credits, and then subtracting the smaller sum from the larger
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Practice quiz Ch 2 - Review Assessment: PRACTICE QUIZ FOR...

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