Accounting Review Part 5*
Flashcard
•
Business
•
11th Grade
•
Practice Problem
•
Hard
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19 questions
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1.
FLASHCARD QUESTION
Front
Information for each transaction recorded in a journal.
Back
Journal
2.
FLASHCARD QUESTION
Front
Recording transactions in a journal
Back
Journalizing
3.
FLASHCARD QUESTION
Front
Information for each transaction recorded in a journal.
Back
Entry
4.
FLASHCARD QUESTION
Front
An employer is required to provide employees with a Form W-2 no later than January 31 of the year following the one for which the report has been completed.
Back
True
5.
FLASHCARD QUESTION
Front
Which inventory costing method assumes that the most recently purchased items are sold first?
Back
LIFO (Last-In, First-Out)
6.
FLASHCARD QUESTION
Front
Which of the following is a professional designation for an accountant? TAX, SEC, CPA, IRS
Back
CPA
7.
FLASHCARD QUESTION
Front
What must the owner's equity equal if assets equal $1,800 and liabilities equal $800?
Back
$1,000
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