AAMI ACCOUNTING ONE FINAL REVIEW 2024 QUESTIONS AND ANSWERS

AAMI ACCOUNTING ONE FINAL REVIEW 2024 QUESTIONS AND ANSWERS 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 ️️ -Asset