81. Accounts are classified in the ledger
A. chronologically
B. alphabetically
C. in accordance with their appearance in the financial statements
D. so that accounts used most often are listed first
82. Revenue should be recognized when
A. cash is received
B. the service is performed
C. the customer places an order
D. the customer charges an order
83. Which of the following accounts is a stockholders' equity account?
A. Cash
B. Accounts Payable
C. Prepaid Insurance
D. Capital Stock
84. The gross increases in stockholders’ equity attributable to business activities are called
A. assets
B. liabilities
C. revenues
D. net income
85. A chart of accounts is
A. the same as a balance sheet
B. usually a listing of accounts in alphabetical order
C. usually a listing of accounts in financial statement order
D. used in place of a ledger
86. The debit side of an account
A. depends on whether the account is an asset, liability or stockholders’ equity
B. can be either side of the account depending on how the accountant set up the system
C. is the right side of the account
D. is the left side of the account
87. An account is said to have a debit balance if
A. the amount of the debits exceeds the amount of the credits
B. there are more entries on the debit side than on the credit side
C. its normal balance is debit without regard to the amounts or number of entries on the debit side
D. the first entry of the accounting period was posted on the debit side
88. Which statement(s) concerning cash is (are) true?
A. cash will always have more debits than credits
B. cash will never have a credit balance
C. cash is increased by debiting
D. all of the above
89. A debit may signify a(n)
A. decrease in asset accounts
B. decrease in liability accounts
C. increase in the capital stock account
D. decrease in the dividends account
90. Which of the following types of accounts have a normal credit balance?
A. assets and liabilities
B. liabilities and expenses
C. revenues and liabilities
D. capital stock and dividends