Types of Accounts in Accounting

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Test your knowledge on accounting accounts!

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JIFFAMAE GELACIO

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Froggy Jumps Types of Accounts in AccountingVersión en línea Test your knowledge on accounting accounts! por JIFFAMAE GELACIO 1 What is a type of account that records assets? a Liability account b Asset account c Revenue account 2 Which account type records expenses? a Equity account b Expense account c Asset account 3 What account type increases with credits and decreases with debits? a Revenue account b Liability account c Asset account 4 Which account type represents owner’s equity? a Expense account b Asset account c Equity account 5 Revenue accounts record what kind of transactions? a Liabilities owed b Income earned c Expenses paid 6 Which account type is used to track what the business owes? a Asset account b Revenue account c Liability account 7 What type of account is cash in hand classified as? a Asset account b Liability account c Expense account 8 Which account type records the owner’s investments? a Liability account b Equity account c Asset account 9 Expenses are recorded in which type of account? a Expense account b Asset account c Revenue account 10 What is the primary purpose of asset accounts? a To record what the business owes b To record owner’s investments c To record what the business owns

Froggy Jumps

Types of Accounts in AccountingVersión en línea

Test your knowledge on accounting accounts!

por JIFFAMAE GELACIO

What is a type of account that records assets?

Liability account

Asset account

Revenue account

Which account type records expenses?

Equity account

Expense account

Asset account

What account type increases with credits and decreases with debits?

Revenue account

Liability account

Asset account

Which account type represents owner’s equity?

Expense account

Asset account

Equity account

Revenue accounts record what kind of transactions?

Liabilities owed

Income earned

Expenses paid

Which account type is used to track what the business owes?

Asset account

Revenue account

Liability account

What type of account is cash in hand classified as?

Asset account

Liability account

Expense account

Which account type records the owner’s investments?

Liability account

Equity account

Asset account

Expenses are recorded in which type of account?

Expense account

Asset account

Revenue account

What is the primary purpose of asset accounts?

To record what the business owes

To record owner’s investments

To record what the business owns

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Types of Accounts in Accounting

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Types of Accounts in AccountingVersión en línea

por JIFFAMAE GELACIO

What is a type of account that records assets?

Which account type records expenses?

What account type increases with credits and decreases with debits?

Which account type represents owner’s equity?

Revenue accounts record what kind of transactions?

Which account type is used to track what the business owes?

What type of account is cash in hand classified as?

Which account type records the owner’s investments?

Expenses are recorded in which type of account?

What is the primary purpose of asset accounts?

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