Debits and Credits-1
Quiz
The accounting term used to indicate an entry in the left column of an account is -
- Debit
- Credit
The accounting term used to indicate an entry in the right column of an account is -
- Credit
- Debit
A debit to an expense account -
- Increases the account's balance
- Decreases the account's balance
A credit to a revenue account -
- Increases the account's balance
- Decreases the account's balance
To increase the balance of the cash account requires -
- a debit to the cash account
- a credit to the cash account
To decrease the balance of the accounts payable account -
- requires a debit to the accounts payable account
- requires a credit to the accounts payable account
To increase the balance of the sales account -
- requires a credit to the sales account
- requires a debit to the sales account
To decrease the balance of the cash account requires -
- a credit to the cash account
- a debit to the cash account
When cash is received the cash account is -
- debited
- credited
To increase the balance of an asset account requires that the account be -
- debited
- credited
Entries made to revenue accounts are normally -
- credits
- debits
Entries made to expense accounts are normally -
- debits
- credits
The normal balance of an expense account is a -
- debit balance
- credit balance
The normal balance of an asset account is a -
- debit balance
- credit balance
The normal balance of a liability account is a -
- credit balance
- debit balance
A debit to an account always represents an increase to the account's balance -
- True
- False
Whether a debit or credit to an account represents an increase or a decrease depends on the type of account -
- True
- False