Chapter 6

Chapter 6

12th Grade

25 Qs

quiz-placeholder

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Chapter 6

Chapter 6

Assessment

Quiz

Other, Specialty

12th Grade

Hard

Created by

Paula Hass

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Reporting income when it is earned and expenses when they are incurred
adjusting entires
cash basis of accounting
accrual basis of accounting
work sheet

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between total revenue and total expenses when total expenses are greater
net loss
net income
trial balance
balance sheet

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Adjusting entries must be posted to the general ledger accounts
true
false

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Net income on a work sheet is calculated by subtracting the income statement debit column total from the income statement credit column total
true
false

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of supplies used during a fiscal period is an expense
true 
false

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What goes on line three of the heading on a work sheet?
For Month Ended (date)
Date
Work Sheet
Company Name

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which account extends to the income statement?
Supplies
Supplies Expense
Cash 
Drawing

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