Listed below are components of several transactions. Indicate whether a debit (dr) or credit (cr) would be required to record the component of the transaction.

Question 2 options:

12	Increase in Common Stock.
12	Decrease in Equipment.
12	Increase in Cash.
12	Increase in Inventory.
12	Decrease in Notes Payable.
12	Increase in Accounts Payable.

1.	Debit
2.	Credit

Question 3 (1 point)

Match the term with the definition.

Question 3 options:

12345678	T-Account
12345678	Credit
12345678	Debit
12345678	Duality Of Effects
12345678	Chart Of Accounts
12345678	Journal Entry
12345678	Posting
12345678	Cost Principle

1.	The concept that any transaction must have at least two effects on the accounting equation.
2.	The mechanism used to record each transaction in the General Journal.
3.	When journal entries are recorded in the appropriate T-account.
4.	An amount that is posted on the left side of a T-account or ledger.
5.	A summary of account names and numbers.
6.	A detailed listing of debits and credits for a specific account within the General Ledger.
7.	An amount that is posted on the right side of a T-account.
8.	Assets are initially recorded at the amount paid to acquire them.