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Unformatted text preview: Accounts and Debit Credit Theory Practice Test, Art Lightstone, October 2006 Accounts and Debit-Credit Theory Practice Quiz (Real Test Value: 30 marks) Part A: Debit-Credit Theory (Real Test Value: 12 marks) Use a check mark in the appropriate column to identify each of the following descriptors as a debit or credit to the specified account. Question No. Descriptor Debit Credit Example Decrease a Mortgage Payable account. 9 1 Increase the Cash account. 2 Decrease an Account Payable account. 3 Decrease the Supplies account. 4 Increase the Capital account. 5 Increase a Bank Loan Payable account. 6 Increase a Drawings account. 7 Increase the Equipment account. 8 Increase an Expense account. 9 Decrease the Furniture account. 10 Increase a Revenue account. 11 Increase an Account Receivable account. 12 Decrease the Fixtures account. Decrease the Fixtures account....
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This note was uploaded on 04/12/2011 for the course ACCT 1310 taught by Professor Vickivorrell during the Spring '07 term at Cuyahoga CC.
- Spring '07
- Financial Accounting