AAMI ACCOUNTING ONE FINAL REVIEW QUESTIONS AND ANSWERS 2025/2026

AAMI ACCOUNTING ONE FINAL REVIEW QUESTIONS AND ANSWERS 2025/2026 How do you increase an asset account? - Answer -Debit How do you decrease an asset account? - Answer -Credit How do you increase a liability account? - Answer -Credit How do you decrease a liability account? - Answer -debit How do you increase revenue? - Answer -Credit How do you increase expenses? - Answer -debit What is the accounting equation? - Answer -Assets=Liabilities+Owner's Equity Cash is a(n): - Answer -Asset Revenue is a(n): - Answer -Owner's Equity Accounts Receivable is a(n): - Answer -Asset Mortgage Payable is a(n): - Answer -Liability Accounts Payable is a(n): - Answer -Liability Office Equipment is a(n): - Answer -Asset Capital is a(n): - Answer -Owner's Equity