Ch 2: MTTC: Account Types

About This Chapter

Use these lessons to refresh your knowledge of account types. These videos can help you study these accounting concepts for the MTTC Business, Management, Marketing and Technology test.

MTTC: Account Types - Chapter Summary

Our experienced instructors will guide you through a review of account types in business accounting before you take the MTTC Business, Management, Marketing and Technology test. The lessons in this chapter explore the following topics:

  • Using accounts to categorize transactions
  • The differences between temporary and permanent accounts
  • Comparing real and nominal accounts
  • The purpose of source documents in accounting
  • Defining ledgers and charts of accounts
  • How to record business transactions in accounting

Our instructors offer fact-filled presentations and fun visuals to make studying account types a breeze. Each video is less than 10 minutes long and can be re-watched as often as you'd like. You can also click on video tags to jump to main ideas within the lesson.

MTTC: Account Types Chapter Objectives

The state of Michigan uses the MTTC Business, Management, Marketing and Technology test to assess the knowledge and skills necessary for entry-level educators to teach this subject matter. The test consists of 100 multiple-choice questions and is administered in both paper-based and computer-based formats. Test takers have 4 and ½ hours to complete all paper test questions, and 2 and ½ hours to answer computerized questions.

The test is organized into four subareas, each of which accounts for 25% of the test. The business subarea includes accounting content. Take our multiple-choice quizzes and chapter exam to prepare to answer questions about account types on the test.

6 Lessons in Chapter 2: MTTC: Account Types
Test your knowledge with a 30-question chapter practice test
What Are Accounts? - Definition and Use to Categorize Transactions

1. What Are Accounts? - Definition and Use to Categorize Transactions

Everything in this world is made up of parts. Accounting is no different. The numerous parts that exist in the accounting world are called accounts. In this lesson, you will learn what accounts are, how they are classified, and what they do.

Temporary & Permanent Accounts: Definition & Differences

2. Temporary & Permanent Accounts: Definition & Differences

Accounts are classified in a variety of ways in accounting. In this lesson, you will learn about two types of account classifications: temporary and permanent accounts.

Real Accounts vs. Nominal Accounts: Definition, Differences & Examples

3. Real Accounts vs. Nominal Accounts: Definition, Differences & Examples

In accounting, there is a classification for everything. Transactions, financial statements, and accounts are broken down into classifications. In this lesson, we will be discussing two classifications of accounts - real accounts and nominal accounts.

Source Documents in Accounting: Definition and Purpose

4. Source Documents in Accounting: Definition and Purpose

Do you know what role source documents play in accounting? If not, don't worry; by the end of this lesson, you will. You will also learn the definition of source documents and see some common examples of source documents.

Ledgers and Chart of Accounts: Definitions and Use

5. Ledgers and Chart of Accounts: Definitions and Use

There are several key concepts that are important to learn when it comes to accounting. In this lesson, you will learn about the ledger and the chart of accounts.

Recording Business Transactions in Accounting

6. Recording Business Transactions in Accounting

Recording a transaction is the first step in the accounting cycle. In this lesson, you will learn why transactions are recorded, where they are recorded, and how they are recorded.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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