Part One—Identifying Accounting Terms Directions: Select the one term in Column I that best fits each definition in Column II. Print the
letter identifying your choice in the Answers column.
Answers
Column
Column II
1. An accounting device used to analyze transactions. (p. 29)
1.
A. chart of accounts
2.
B. credit
2. An amount recorded on the left side of a T account. (p. 29)
3.
C. debit
3. An amount recorded on the right side of a T account. (p. 29)
4.
D. normal balance
4. The side of the account that is increased. (p. 29)
5.
E. T account
5. A list of accounts used by a business. (p. 32)