
FABM 1 LESSON 7 REVIEW
Authored by Jessa Naquimen
Special Education
12th Grade
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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