AAMI ACCOUNTING ONE FINAL REVIEW QUESTIONS AND ANSWERS 2025

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AAMI ACCOUNTING ONE FINAL
REVIEW QUESTIONS AND ANSWERS
2025

How do you increase an asset account? - correct answer- Debit




How do you decrease an asset account? - correct answer-
Credit




How do you increase a liability account? - correct answer-
Credit




How do you decrease a liability account? - correct answer-
debit




How do you increase revenue? - correct answer- Credit




How do you increase expenses? - correct answer- debit

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What is the accounting equation? - correct answer-
Assets=Liabilities+Owner's Equity




Cash is a(n): - correct answer- Asset




Revenue is a(n): - correct answer- Owner's Equity




Accounts Receivable is a(n): - correct answer- Asset




Mortgage Payable is a(n): - correct answer- Liability




Accounts Payable is a(n): - correct answer- Liability




Office Equipment is a(n): - correct answer- Asset




Capital is a(n): - correct answer- Owner's Equity