Account classification quiz

Classify each account by type, normal balance, and the statement where it appears — including contra accounts.

Quick lesson

The five account types

An account is a labeled record of increases and decreases for one item, such as Cash or Rent Expense. Every account belongs to one of five types.

Type	Meaning	Examples
Asset	Resources the business controls	Cash, Accounts Receivable, Supplies, Equipment
Liability	Amounts the business owes	Accounts Payable, Wages Payable, Unearned Revenue, Notes Payable
Equity	The owner's claim	Owner Capital, Owner Drawings
Revenue	Amounts earned from customers	Service Revenue, Sales Revenue, Interest Revenue
Expense	Costs used up to earn revenue	Rent, Wages, Utilities, Depreciation

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How grading works

Answers are checked on our server against a fixed rubric: accounts, debit or credit side, amounts to the cent, and dates. Hints start with the smallest useful clue. Revealing the solution is allowed, but mastery requires a later unassisted success.

Account classification quiz

Classify: Cash