Debits and Credits Practice Quiz
Debit and Credit Practice Questions
How well do you know Debits and Credits? Try to answer these five questions:
When you Debit Accounts Payable it ______ .
a) increases
b) decreases
When you Credit Inventory it ______ .
a) increases
b) decreases
When you Debit Interest Expenses it ______ .
a) increases
b) decreases
When you Credit a Revenue account it ______ .
a) increases
b) decreases
When you Credit Owner's Equity it ______ .
a) increases
b) decreases
Scroll down to see the answers.
Debit and Credit Practice Question Video
You can also take the test in this video:
Debit and Credit Practice Answers
Here are the answers:
b) When you Debit Accounts Payable it decreases. Accounts Payable is a Normal Credit Account so Credits increase it and Debits decrease it.
b) When you Credit Inventory it decreases. Inventory is a Normal Debit Account so Debits increase it and Credits decrease it.
a) When you Debit Interest Expenses it increases. Interest Expenses is a Normal Debit Account so Debits increase it and Credits decrease it.
a) When you Credit a Revenue account it increases. Revenue is a Normal Credit Account so Credits increase it and Debits decrease it.
a) When you Credit Owner's Equity it increases. Owner’s Equity is a Normal Credit Account so Credits increase it and Debits decrease it.
How many did you get right? Let us know in the comments below.
Debit and Credit Question Pack
I have put together a question pack covering Debits and Credits. If you’d like to practice this topic some more then you can download it here. The question pack contains 25 Debit & Credit practice questions and answers.
Debits and Credits Cheat Sheet
My Debit and Credit Cheat Sheet summarizes all the key information you need to know. You can download it here:
