Question 1
Which equation correctly states the fundamental accounting equation that must always remain in balance?
Correct Answer:
Assets = Liabilities + Owner's Equity
Question 2
In double-entry accounting, what is the correct order of the steps that begin the accounting cycle?
Correct Answer:
Analyze transactions, journalize, post to ledger
Question 3
A company purchases equipment for $5,000 cash. How does this transaction affect the accounting equation?
Correct Answer:
One asset increases and another asset decreases, leaving total assets unchanged
Question 4
Which source document is most directly used to record a credit sale of merchandise to a customer?
Correct Answer:
Sales invoice
Question 5
Under the rules of debits and credits, an increase in an expense account is recorded as a:
Correct Answer:
Debit
Question 1
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Prepare with the MTTC Business, Management, Marketing, and Technology (098) Practice Questions - MTTC Business, Management, Marketing, and Technology (098) Test Exam practice quiz. This question bank includes 100 questions covering price, company, business, product, and accounting. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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MTTC Business, Management, Marketing, and Technology (098) Practice Questions - MTTC Business, Management, Marketing, and Technology (098) Test Exam

This practice set contains 100 questions from the matching question bank and focuses on price, company, business, product, and accounting. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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