Account Groups in Financial Accounting

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Questions and Answers

¿Cuál es el balance normal de las cuentas de activo?

Depende del tipo de cuenta
Débito (correct)
Ninguno
Crédito

¿Qué sucede cuando se acredita una cuenta de ingresos?

Disminuye
No cambia
Pierde valor
Aumenta (correct)

¿Cuál de las siguientes no es un ejemplo de cuenta de activo?

Propiedad, planta y equipo
Inventario
Ventas (correct)
Efectivo

¿Qué sucede cuando se debita una cuenta de activo?

<p>Aumenta (C)</p> Signup and view all the answers

¿Cuál es el propósito principal de los grupos de cuentas?

<p>Clasificar y organizar transacciones financieras (D)</p> Signup and view all the answers

Study Notes

Account Groups

Account groups are categories of accounts that are used to classify and organize financial transactions in a company's general ledger.

Asset Accounts

Asset accounts represent the resources owned or controlled by a business
Examples of asset accounts:
- Cash
- Accounts receivable
- Inventory
- Property, plant, and equipment
- Investments
Asset accounts are increased by debits and decreased by credits
Normal balance of asset accounts is a debit balance

Revenue Accounts

Revenue accounts represent the income earned by a business from its normal operations
Examples of revenue accounts:
- Sales
- Service revenue
- Interest revenue
- Rent revenue
- Dividend revenue
Revenue accounts are increased by credits and decreased by debits
Normal balance of revenue accounts is a credit balance

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Description

Learn about the different types of account groups, including asset and revenue accounts, and how they are used to classify and organize financial transactions in a company's general ledger.