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AAMI ACCOUNTING ONE FINAL REVIEW 2025|
BRAND NEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
SOLUTIONS| GUARANTEED VALUE PACK| ACE
YOUR GRADES.
1. Which of the following are considered temporary owner's equity
accounts? - correct answer - REVENUE AN EXPENSES
2. Cash is an - correct answer - asset
3. Capital is a - correct answer - liability account.
4. Accounts Receivable is an - correct answer - asset.
5. Mortgage Payable is an - correct answer - liabilities
6. Capital is an - correct answer - owners equity
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7. A book of transactions is a: - correct answer - Journal
8. A book of accounts is a: - correct answer - Ledger
9. The language of business is (a): - correct answer - Ledger
10. How you increase an account is the type of balance it has. - correct
answer - True
11. The following are debit balance accounts - correct answer - Assets
and expenses
12. The following are credit balance accounts: - correct answer -
Liabilities - Owner's equity - Revenue
13. Cash has a credit balance - correct answer - False
14. Mortgage Payable has a credit balance. - correct answer - False
AAMI ACCOUNTING ONE FINAL REVIEW 2025|
BRAND NEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
SOLUTIONS| GUARANTEED VALUE PACK| ACE
YOUR GRADES.
1. Which of the following are considered temporary owner's equity
accounts? - correct answer - REVENUE AN EXPENSES
2. Cash is an - correct answer - asset
3. Capital is a - correct answer - liability account.
4. Accounts Receivable is an - correct answer - asset.
5. Mortgage Payable is an - correct answer - liabilities
6. Capital is an - correct answer - owners equity
, Page |2
7. A book of transactions is a: - correct answer - Journal
8. A book of accounts is a: - correct answer - Ledger
9. The language of business is (a): - correct answer - Ledger
10. How you increase an account is the type of balance it has. - correct
answer - True
11. The following are debit balance accounts - correct answer - Assets
and expenses
12. The following are credit balance accounts: - correct answer -
Liabilities - Owner's equity - Revenue
13. Cash has a credit balance - correct answer - False
14. Mortgage Payable has a credit balance. - correct answer - False
