Run the ledger gates

Exercise and reference answers

Questions

1. Correct

   Debit

   Choices

   1. Debit
   2. Credit
   3. Neither

2. Correct

   Credit

   Choices

   1. Debit
   2. Credit
   3. Neither

3. Correct

   Asset

   Choices

   1. Asset
   2. Liability
   3. Neither

4. Correct

   Liability

   Choices

   1. Asset
   2. Liability
   3. Neither

5. Correct

   Normal

   Choices

   1. Normal
   2. Abnormal
   3. Neither

6. Correct

   Abnormal

   Choices

   1. Normal
   2. Abnormal
   3. Neither

Instructions

Pick the correct term at every gate.

Explanation