Multiple Choice
Match the terms with the definitions.
-A system in which each transaction has a dual effect on the accounting elements.
A) balance
B) credit
C) credit balance
D) debit
E) debit balance
F) double-entry accounting
G) footings
H) normal balance
I) account
J) trial balance
Correct Answer:
Verified
Correct Answer:
Verified
Q40: An amount entered on the left side
Q41: The normal balance for an expense account
Q42: Revenues<br>A) decrease liabilities.<br>B) decrease cash.<br>C) increase expenses.<br>D)
Q43: Equity accounts normally have debit balances.
Q44: Totals on the debit and credit sides
Q46: To _ an account means to enter
Q47: The trial balance<br>A) shows the current date.<br>B)
Q48: To increase a revenue account will require
Q49: Match the terms with the definitions.<br>
Q50: Prepaid insurance and supplies are assets because