Intuit Academy Bookkeeping
Professional Certificate: Bookkeeping
Basics Questions with 100% Correct
Answers
The Accounting Principle Correct Answer: You can't mix business and personal
assets or expenses.
Accounting Equation Correct Answer: Assets = Liabilities + Owner's Equity
or
Assets - Liabilities = Owner's Equity
Expanded Accounting Equation Correct Answer: Assets = Liabilities + Equity +
Revenue - Expenses - Dividends
The Five Account Types Correct Answer: Assets, Liabilities, Equity, Revenue,
Expenses
Normal balance of the five account types Correct Answer: Assets- Normal Dr
balance
Expenses- Normal Dr balance
Dividends- Normal Dr balance
Equity- Normal Cr balance
Revenue- Normal Cr balance
General Journal Correct Answer: A list of transactions organized chronologically
Professional Certificate: Bookkeeping
Basics Questions with 100% Correct
Answers
The Accounting Principle Correct Answer: You can't mix business and personal
assets or expenses.
Accounting Equation Correct Answer: Assets = Liabilities + Owner's Equity
or
Assets - Liabilities = Owner's Equity
Expanded Accounting Equation Correct Answer: Assets = Liabilities + Equity +
Revenue - Expenses - Dividends
The Five Account Types Correct Answer: Assets, Liabilities, Equity, Revenue,
Expenses
Normal balance of the five account types Correct Answer: Assets- Normal Dr
balance
Expenses- Normal Dr balance
Dividends- Normal Dr balance
Equity- Normal Cr balance
Revenue- Normal Cr balance
General Journal Correct Answer: A list of transactions organized chronologically
