A PATHOPHYSIOLOGY MIDTERM EXAM UPDATED EXAM REVIEW 2026 QUESTIONS AND CORRECT SOLUTIONS GRADED A+

AAMI ACCOUNTING 1 FINAL REVIEW
EXAM COMPREHENSIVE PAPER 2026 FULL
SOLUTION
⫸ 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


⫸ Automotive Equipment is a(n): Answer: Asset


⫸ The book of original entry is Answer: The Journal


⫸ What account would you credit if you did a funeral and received
cash? Answer: Revenue


⫸ What account would you debit if you did a funeral for cash? Answer:
Cash


⫸ What account would you credit if you did a funeral and did not
receive the funds from the family but are owed on account? Answer:
Revenue