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Accounting Final Review s2

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9th - 12th Grade

Used 17+ times

Accounting Final Review s2
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10 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

An increase in owner's equity resulting from operation of a business is called what?

Expense
Revenue
Sales
Account

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The right side of a T Account is the

Debit Side
Credit Side
Normal Balance Side
Equity Side

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Accounts Receivable accounts are increased with a ___________.

Debit
Credit
Withdrawal 
Deposit

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A business form ordering a bank to pay cash from a bank account is called a(n) ______________.

Journal
Deposit
Sales Invoice
Check

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The procedure for transferring information information from a journal entry to a ledger account is_______.

Posting
Journalizing
File Maintenance 
Accounting 

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

______ is a financial statement that reports assets, liabilities, and owner's equity on a specific date.

Work Sheet
Income Statement
Adjustment Sheet
Balance Sheet

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

On a trial balance,

all general ledger account titles are listed
only general ledger accounts that have balances are listed
only accounts with debits are listed
only accounts with credits are listed

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