
ACCOUNTING CHAPTER 8 - CENGAGE

Flashcard
•
Business
•
9th - 12th Grade
•
Hard
Wayground Content
FREE Resource
Student preview

45 questions
Show all answers
1.
FLASHCARD QUESTION
Front
The capital account's new balance after all closing entries are posted is verified by checking it with the amount of capital shown on the balance sheet at the end of the fiscal period.
Back
True
2.
FLASHCARD QUESTION
Front
Are all accounts in a general ledger listed on a post-closing trial balance?
Back
False
3.
FLASHCARD QUESTION
Front
Adjusting entries are recorded on the next journal page following the page on which the last daily transactions for the month are recorded.
Back
True
4.
FLASHCARD QUESTION
Front
Permanent accounts are also referred to as temporary accounts.
Back
False
5.
FLASHCARD QUESTION
Front
Preparing a worksheet at the end of the fiscal period to summarize the general ledger information needed to prepare financial statements is an application of the accounting concept Accounting Period Cycle.
Back
True
6.
FLASHCARD QUESTION
Front
The ending account balances of permanent accounts for one fiscal period are the beginning account balances for the next fiscal period.
Back
True
7.
FLASHCARD QUESTION
Front
At the end of a fiscal period, the balances of temporary accounts are summarized and transferred to the owner's capital account.
Back
True
Create a free account and access millions of resources
Similar Resources on Wayground
35 questions
Intro. to Depository Institutions Assessment

Flashcard
•
9th - 12th Grade
40 questions
Credit Unit Test

Flashcard
•
9th - 12th Grade
43 questions
Accounting

Flashcard
•
9th - 12th Grade
44 questions
Accounting Review Part 2*

Flashcard
•
11th Grade
45 questions
Account Titles-G9

Flashcard
•
9th - 12th Grade
37 questions
Depository Institutions Review #2

Flashcard
•
9th - 11th Grade
40 questions
Accounting S1 Final Exam Review

Flashcard
•
11th Grade
35 questions
Accounting 1 4.01

Flashcard
•
9th - 12th Grade
Popular Resources on Wayground
55 questions
CHS Student Handbook 25-26

Quiz
•
9th Grade
10 questions
Afterschool Activities & Sports

Quiz
•
6th - 8th Grade
15 questions
PRIDE

Quiz
•
6th - 8th Grade
15 questions
Cool Tool:Chromebook

Quiz
•
6th - 8th Grade
10 questions
Lab Safety Procedures and Guidelines

Interactive video
•
6th - 10th Grade
10 questions
Nouns, nouns, nouns

Quiz
•
3rd Grade
20 questions
Bullying

Quiz
•
7th Grade
18 questions
7SS - 30a - Budgeting

Quiz
•
6th - 8th Grade