An Accounting Department

A fiscal period consists of ...

• 12 months

• 2 months

• 12 years

• 24 months

Two meanings of a credit are ...

• money received

• money owed or paid out

• an entry made on the right side of an account

• an entry made on the left side of an account

In accounting, an entry made on the left side of an account is ...

• money received

• money owed or paid out

• credit

• debit and credit

The bank's balance sheet lists ...

• assets and liabilities

• assets and profits

• profits and liabilities

• assets and credit

Two other words for long-term obligations are ...

• debentures

• bonds

• expense

• amortization

At a bank, a balance sheet is usually called ...

• statement of condition

• promissory notes

• commercial paper

• premises

Listen, and the correct answer is ...

• cash basis

• accrual basis

• amortization

• promissory notes

Listen, and the correct answer is ...

• promissory notes

• statement of condition

• accrual basis

• amortization

How often is a profit and loss statement issued?

• once in a fiscal period

• twice in a fiscal period

• twelve times in a fiscal period

• anytime in a fiscal period

Three of many things that bank accountants do are ...

• enter credits and debits in journals and ledgers

• list different items of assets and liabilities in a corporation

• prepare the balance sheet that appears in the annual report

• assign entries to the proper category