ACCOUNTING CHAPTER 4 REVIEW

ACCOUNTING CHAPTER 4 REVIEW

9th - 12th Grade

40 Qs

quiz-placeholder

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ACCOUNTING CHAPTER 4 REVIEW

ACCOUNTING CHAPTER 4 REVIEW

Assessment

Quiz

Business

9th - 12th Grade

Easy

Created by

Chelsey Gilmore

Used 2+ times

FREE Resource

40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A journal shows in one place all the changes in a single account.
True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Account numbers may be assigned by 10s so that new accounts can be added easily.
True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The procedure for arranging accounts in a general ledger, assigning account numbers and keeping records current is posting.
True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A group of accounts is called a ledger.
True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a business has only two asset accounts, Cash and Supplies, the two accounts are numbered 110 and 120.
True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term or putting the individual line items from the journal into the general ledger?

journalizing

posting

adding

ruling

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All liabilities are labeled with this category #:

100

200

300

400

500

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