
Accounting II - Chapter 11
Authored by Kris Miller
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11th Grade
Used 4+ times

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28 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The correcting entry to correct a sale on account recorded to the wrong customer in the sales journal involves Accounts Receivable and the subsidiary ledger accounts
True
False
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Net income increases a corporation's total stockholders' equity
True
False
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
A corporation's Dividends account is a temporary account
True
False
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The normal account balance of Purchases Returns and Allowances is a debit
True
False
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
An entry in the general journal that affects Accounts Payable also affects a vendor's account in the accounts payable ledger
True
False
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
A corporation can decide if and when to declare a dividend
True
False
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The normal account balance of Sales Returns and Allowances is a credit
True
False
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