Kentucky Funeral Directors Exam
Guide questions n answers
Basic Accounting theory is based on - ANS ✔✔Double Entry
The group of accounts which you debit when increased are - ANS ✔✔assets and expenses
The group of accounts which you credit to increase are - ANS ✔✔liabilities and capital
When a funeral director buys a casket coach on credit, he would - ANS ✔✔debit casket coach
and credit accounts payable
The payment of rent by cash is recorded - ANS ✔✔debit rent expense and credit cash
Purchase of office supplies on credit is recorded by - ANS ✔✔debit office supplies and credit
accounts payable
A ledger is a - ANS ✔✔book of accounts
An entry on the debit side of a liability account indicates the account has been - ANS
✔✔decreased
An entry made on the debit side of the proprietorship account indicates that the account has
been - ANS ✔✔decreased
Guide questions n answers
Basic Accounting theory is based on - ANS ✔✔Double Entry
The group of accounts which you debit when increased are - ANS ✔✔assets and expenses
The group of accounts which you credit to increase are - ANS ✔✔liabilities and capital
When a funeral director buys a casket coach on credit, he would - ANS ✔✔debit casket coach
and credit accounts payable
The payment of rent by cash is recorded - ANS ✔✔debit rent expense and credit cash
Purchase of office supplies on credit is recorded by - ANS ✔✔debit office supplies and credit
accounts payable
A ledger is a - ANS ✔✔book of accounts
An entry on the debit side of a liability account indicates the account has been - ANS
✔✔decreased
An entry made on the debit side of the proprietorship account indicates that the account has
been - ANS ✔✔decreased
