Question $1($Mandatory$)(2$ points$)$

Which of the following accounts is an owner's equity account?

Question $1$ options:

a$)$

Cash

b$)$

Accounts Payable

c$)$

Prepaid Insurance

d$)$

Ross Morris, Capital

Question $2($Mandatory$)(2$ points$)$

The debit side of an account

Question $2$ options:

a$)$

depends on whether the account is an asset, liability, or owner's equity

b$)$

can be either side of the account depending on how the accountant set up the system

c$)$

is the right side of the account

d$)$

is the left side of the account

Question $3($Mandatory$)(2$ points$)$

Which side of the account increases the cash account?

Question $3$ options:

a$)$

credit

b$)$

neither a debit nor a credit

c$)$

debit

d$)$

either a debit or a credit

Question $4($Mandatory$)(2$ points$)$

Which of the following is not considered to be a liability?

Question $4$ options:

a$)$

Wages Payable

b$)$

Accounts Receivable

c$)$

Unearned Revenue

d$)$

Accounts Payable

Question $5($Mandatory$)(2$ points$)$

Which of the following types of accounts have a normal credit balance?

Question $5$ options:

a$)$

assets and liabilities

b$)$

liabilities and expenses

c$)$

revenues and capital

d$)$

capital and drawing