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Exam (elaborations)

Test Bank for Century 21 Accounting Multicolumn Journal 11th Edition Gilbertson

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This document provides the full test bank for Century 21 Accounting: Multicolumn Journal (11th Edition) by Gilbertson. It includes multiple-choice, true/false, and problem-based questions covering accounting concepts such as the accounting cycle, journalizing transactions, posting to ledgers, preparing financial statements, payroll, and merchandising business accounting. Organized by chapter, the test bank is an excellent tool for exam preparation and reinforcing accounting skills.

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Institution
Accounting
Module
Accounting

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,DOWNLOAD THE Test Bank for Century 21 Accounting Multicolumn Journal
11th Edition Gilbertson
Name: Class: Date:

Chapter 02—Debit and Credit Parts
1. An accounting device used to analyze transactions is a T account.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO1 - Show the relationship between the accounting equation and a T account.
DATE CREATED: 1/11/2017 12:02 PM
DATE MODIFIED: 1/11/2017 12:02 PM

2. An amount recorded on the right side of a T account is a debit.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO1 - Show the relationship between the accounting equation and a T account.
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

3. Each asset account has a normal credit balance.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO2 - Identify the debit and credit side, the increase and decrease side, and the
balance side of various accounts.
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

4. Each liability account has a normal debit balance.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Remember/Understand
Copyright Cengage Learning. Powered by Cognero. Page 1


mynursytest.store

,DOWNLOAD THE Test Bank for Century 21 Accounting Multicolumn Journal
11th Edition Gilbertson
Name: Class: Date:

Chapter 02—Debit and Credit Parts
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO2 - Identify the debit and credit side, the increase and decrease side, and the
balance side of various accounts.
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

5. The balance of an account increases on the same side as the normal balance side.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO2 - Identify the debit and credit side, the increase and decrease side, and the
balance side of various accounts.
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

6. Asset accounts decrease on the credit side.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO2 - Identify the debit and credit side, the increase and decrease side, and the
balance side of various accounts.
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

7. Each transaction changes the balances in at least two accounts.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO3 - Restate and apply the two rules that are associated with the increase side of an
account.

Copyright Cengage Learning. Powered by Cognero. Page 2


mynursytest.store

, DOWNLOAD THE Test Bank for Century 21 Accounting Multicolumn Journal
11th Edition Gilbertson
Name: Class: Date:

Chapter 02—Debit and Credit Parts
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

8. A list of accounts used by a business is a chart of accounts.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

9. When cash is paid for supplies, the Supplies account is increased by a credit.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO5 - Analyze transactions for operating a business into debit and credit parts.
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

10. Common accounting practice is to record withdrawals as debits directly in the owner’s capital account.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Remember/Understand
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: CH02_LO5 - Analyze transactions for operating a business into debit and credit parts.
DATE CREATED: 1/11/2017 12:03 PM
DATE MODIFIED: 1/11/2017 12:03 PM

11. The left side of an asset account is the credit side because asset accounts are on the left side of the accounting
equation.
a. True
b. False
ANSWER: False
Copyright Cengage Learning. Powered by Cognero. Page 3


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Module
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Uploaded on
July 24, 2025
Number of pages
110
Written in
2024/2025
Type
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  • test bank accounting cycle journalizing transactio
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