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Accounting Debit or Credit? - Statistics
General Stats
- This quiz has been taken 906 times
- The average score is 8 of 15
Answer Stats
| Question | Answer | % Correct |
|---|---|---|
| Increase in the cash account | Debit (Dr) | 74%
|
| Increase in inventories | Debit | 72%
|
| 'Normal' ending balance of inventories accounts | Debit | 65%
|
| Decrease in Accounts Payable | Debit | 64%
|
| Increase in intangible assets | Debit | 63%
|
| A company pays their outstanding balance of accounts payable: debit or credit to accounts payable | Debit | 62%
|
| A company pays their outstanding balance of accounts payable: debit or credit to cash | Credit | 55%
|
| Company ABC pays their outstanding balance to company XYZ: for company XYZ, is cash debited or credited? | Debit | 52%
|
| Company ABC pays their outstanding balance to company XYZ: for company XYZ, is accounts receivable debited or credited? | Credit | 47%
|
| A company accrues interest expense at month end: how is interest receivable affected? | Interest receivable is not affected in this situation | 47%
|
| Company ABC pays their outstanding balance to company XYZ: for company XYZ, is accounts payable debited or credited? | Accounts Payable is not affected in this situation | 44%
|
| A company accrues interest expense at month end: how is interest expense affected | Debit | 44%
|
| A company makes a purchase on account: what happens to cash at the point of purchase? | Cash is not affected at the point of purchase | 43%
|
| A company accrues interest expense at month end: how is interest payable affected? | Credit | 40%
|
| 'Normal' ending balance of accumulated depreciation/amortization | Credit | 38%
|
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