Ch2_Summary_Practice_Test - Ch 2 Summary Practice Test...

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Ch 2 Summary Practice Test Name: Section: Date: Part I: Instructions Fill in the blank to complete the statement. 1. accumulate information in a book called the ledger. 2. The left side of any T-account is called the . 3. Assets are increased by . 4. The process of balancing an account involves . 5. Transaction analysis charts are an aid in recording . 6. The indicates the names and numbering system of accounts. 7. A is a group of accounts. 8. A is an informal report that lists accounts and their balances. 9. Withdrawals are increased by . 10. The income statement, statement of owner's equityk and balance sheet may be prepared from a 11. Cash, Accounts Receivable, and Equipment are examples of . 12. Increasing expenses ultimately cause owner's equity to . 13. An increase in rent expense is a by the rules of debits and credits. 14. A debit to one asset and a credit to another asset for the same transaction reflect a in assets. 15.
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This note was uploaded on 02/10/2011 for the course ACCOUNTING 101 taught by Professor B.j. during the Summer '07 term at Edmonds Community College.

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Ch2_Summary_Practice_Test - Ch 2 Summary Practice Test...

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