Accounting Self-Assessment Quiz

Name:_________________________ Period:____ Date:_________ Glencoe Accounting (First-Year Course) Chapter 5, Section 1

1.	The Utilities account would
		decrease on the debit side
		increase on the credit side
		swing low, sweet chariot
		increase on the debit side

2.	The accounts used to collect information for a single accounting period are
		revenue, owner`s capital, and liability
		asset, owner`s capital, and liability
		revenue, expense, and owner`s withdrawal
		revenue, expense, and owner`s capital

3.	Revenue, expense, and withdrawals accounts are called
		permanent accounts
		capital accounts
		I could use a pizza about now
		temporary capital accounts

4.	Revenue
		increases owner`s capital
		decreases owner`s capital
		has no effect on owner`s capital
		is affected by owner`s contribution

5.	When an account balance continues from one accounting period to the next, it is called a
		continuous balance
		relative balance
		permanent account
		temporary capital account

6.	Albert Einstein
		lives on Catalina Island
		had some crazy looking hair
		drives a Boxster
		makes a great cannoli

7.	Revenue is increased on the
		debit side
		credit side
		depends on the revenue source
		asset account

8.	Withdrawals is increased on the
		debit side
		credit side
		first full moon in Autumn
		does not increase