
Accounting I Ch. 4
Authored by Paula Hass
Other
10th - 12th Grade
Used 7+ times

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19 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A journal shows in one place all the changes to a single account.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Account numbers are by 10's so that new accounts can be added easily.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a business only has two asset accounts, cash and supplies, the two accounts are account 110 and 120.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The first step for opening an account are writing the account title and recording the balance.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A journal entry made to correct an error in the ledger is called an adjusting entry.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The 100 accounts in the Chart of Accounts are liability accounts.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A new account to be added between 530 and 540 would be assigned number 535.
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