FABM 1 LESSON 7 REVIEW

FABM 1 LESSON 7 REVIEW

12th Grade

5 Qs

quiz-placeholder

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FABM 1 LESSON 7 REVIEW

FABM 1 LESSON 7 REVIEW

Assessment

Quiz

Special Education

12th Grade

Practice Problem

Hard

Created by

Jessa Naquimen

Used 4+ times

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do you refer to the life of the business which is divided into accounting periods of equal length?

The Accounting Process

The Accounting System

The Accounting Cycle

The Accounting Procedure

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The first step of the accounting cycle is to _________ and _______ the events to be recorded

Record and classify

Classify and interpret

Identify and classify

Identify and analyze

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What do you call the first book of accounts?

General Ledger

General Journal

Accounting Ledger

Posting Journal

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In posting the General Journal, the debited accout must be written first, TRUE or FALSE?

TRUE

FALSE

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do you call the type of journal entry that has 3 or more accounts?

Simple Entry

Complex Entry

Compound Entry

Triple Entry

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