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If you have difficulty answering the following questions, learn more about this topic by reading our Bookkeeping (Explanation).
A __________ amount will appear on the left side of a T-account.
When a check is written, a cash account should be __________.
Liability accounts will normally have __________ balances.
Revenue accounts will normally have __________ balances.
The book of original entry is the definition of a __________.
Large corporations should report revenues on their income statements when the __________.
Accrued expenses are likely to pertain to transactions that have __________ been paid.
Deferred revenues likely involve cash amounts that have __________ been received.
A supplier of goods or services is known as a __________.
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Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.
