Accounting Chapter 6

Accounting Chapter 6

9th - 12th Grade

21 Qs

quiz-placeholder

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Accounting Chapter 6

Accounting Chapter 6

Assessment

Quiz

Specialty

9th - 12th Grade

Medium

Created by

Tina Gummo

Used 889+ times

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21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Only accounts with a balance are listed in the Trial Balance columns of a work sheet.
True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Adjusting entries must be posted to the general ledger accounts.
True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Many businesses choose a one-year fiscal period that ends during a period of high business activity.
True
False

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

 Two financial statements are prepared from the information on the work sheet.
True
False

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If the Trial Balance columns are not equal and the difference can be evenly divided by 9, then the error most likely is a transposed number.
True
False

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When the Income Statement Debit column total is greater than the Income Statement Credit column total on a work sheet, the business has a net income.
True
False

7.

MULTIPLE CHOICE QUESTION

45 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

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