AAMI ACCOUNTING ONE FINAL REVIEW WITH COMPLETE SOLUTIONS

AAMI ACCOUNTING ONE FINAL REVIEW WITH COMPLETE SOLUTIONS How do you increase an asset account? - Correct Answer Debit How do you decrease an asset account? - Correct Answer Credit How do you increase a liability account? - Correct Answer Credit How do you decrease a liability account? - Correct Answer debit How do you increase revenue? - Correct Answer Credit How do you increase expenses? - Correct Answer debit What is the accounting equation? - Correct Answer Assets=Liabilities+Owner's Equity Cash is a(n): - Correct Answer Asset Revenue is a(n): - Correct Answer Owner's Equity Accounts Receivable is a(n): - Correct Answer Asset Mortgage Payable is a(n): - Correct Answer Liability Accounts Payable is a(n): - Correct Answer Liability Office Equipment is a(n): - Correct Answer Asset Capital is a(n): - Correct Answer Owner's Equity Automotive Equipment is a(n): - Correct Answer