← SetsAccounting Principles — Set 2
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Accounting Principles Practice Questions — Set 2
10 free Accounting Principles reviewer questions with answers and explanations. Pindutin ang sagot mo para makita agad kung tama — kasama na ang paliwanag. Set 2 of 10.
11
What is the normal balance of an asset account?
12
When recording the purchase of supplies on account for ₱25,000, which entry is correct?
13
Which account type is decreased by a debit?
14
A company receives ₱200,000 from issuing common stock. What is the journal entry?
15
What is the purpose of a compound journal entry?
16
Which financial statement reports a company's financial position at a specific point in time?
17
What is the formula for calculating net income?
18
Which section of the cash flow statement reports cash from normal business operations?
19
What does a negative retained earnings balance indicate?
20