Chapter 3 (“Analyzing Business Transactions Using T Accounts”)

Question 1

A business transaction affects at least two accounts.

True
False

Answer 1

True

Question 2

If the total of the amounts on the debit side of an account is greater than the total on the credit side, the balance is recorded on the debit side.

True
False

Answer 2

True

Question 3

Revenue is a subdivision of owner’s equity.
True
False

Answer 3

True

Question 4

Which of the following accounts is not a permanent account?

Cash
Accounts Payable
Salaries Expense
Thomas Bernard, Capital

Answer 4

cash

答え：Salaries expense

Question 5

The normal balance of an account is the:

increase side of the account.
decrease side of the account.
the left side of the account.
the right side of the account.

Answer 5

わからん

increase side of the account

Question 6

When revenue is earned from charge-account sales, the accountant:

debits a revenue account and credits the capital account.
debits Accounts Receivable and credits a revenue account.
debits a revenue account and credits Accounts Receivable.
debits Cash and credits a revenue account.

Answer 6

debits a revenue account and credits Accounts Receivable.

答えは
debits Accounts Receivable and credits a revenue account.

Question 7

A trial balance usually has no mathematical errors if the total debit amount equals total the credit amount.

True
False

Answer 7

Trial balance ってなんだっけ・・・

False

Question 8

On a statement of owner’s equity, beginning capital is $30,000, Net Income for the year is $11,000 and Drawing for the year is $6,000, the ending capital amount would be

$30,000
$35,000
$47,000
$25,000

Answer 8

３５０００

Question 9

Which of the following accounts is NOT a nominal account?

Salaries Expense
Moriah Paige, Drawing
Rent Revenue
Office Supplies

Answer 9

Office Supplies

Question 10

When developing a chart of accounts, the highest block of numbers is assigned to asset accounts.
True
False

Answer 10

False