Accounting Debit or Credit? - Statistics

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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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