Accounting-Chapter 8 Test Review

Accounting-Chapter 8 Test Review

10th - 12th Grade

28 Qs

quiz-placeholder

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Accounting-Chapter 8 Test Review

Accounting-Chapter 8 Test Review

Assessment

Quiz

Life Skills

10th - 12th Grade

Easy

Created by

Lisa Kiefer

Used 14+ times

FREE Resource

28 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Drawing a line under a column of accounts is known as:

Art

Double ruling

Ruling

Totaling

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

On a worksheet, this sections explains the who, what, when:

Balance sheet section

Heading section

Income statement section

Trial balance section

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A net income or net loss will increase or decrease what account:

Assets

Capital

Liabilities

Revenue

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What section of the worksheet includes all general ledger accounts:

Balance sheet

Heading

Income statement

Trial balance

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

According to ______, expenses incurred in an accounting period are compared against revenue:

Extending

Heading

Matching principle

Ruling

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

When the Income Statement Debit is larger than the Income Statement Credit column, what occurs:

Net income

Net loss

An error

None of these

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What section of the worksheet includes only the temporary accounts (revenues and expenses):

Balance sheet

Heading

Income statement

Trial balance

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