NOCTI Review 2

Flashcard
•
Business
•
10th - 12th Grade
•
Hard
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20 questions
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1.
FLASHCARD QUESTION
Front
In accounting, use a spreadsheet to
Back
process and manage data
2.
FLASHCARD QUESTION
Front
Assets, withdrawals, and _____ have normal debit balances.
Back
expenses
3.
FLASHCARD QUESTION
Front
Susan opened a business and invested $5,000 in cash and a computer worth $2,500. These investments will increase
Back
assets by $7,500
4.
FLASHCARD QUESTION
Front
The appropriate entry for receiving money from a customer is to
Back
increase cash
5.
FLASHCARD QUESTION
Front
The journal entry to record cash investment by the owner is to debit Cash and credit _____________
Back
Capital
6.
FLASHCARD QUESTION
Front
Jason invested $15,000 cash to start his business. How does this transaction impact the basic accounting equation?
Back
increase owner's equity by $15,000
7.
FLASHCARD QUESTION
Front
Journalizing is a process in which
Back
source documents are analyzed for debit and credit entries
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