Accounting Test Review

Which of the following are steps in the accounting cycle?

• Adjusting and Closing Entries

• Balancing Off

• Trial Balance

• Financial Statements

• Posting to the Ledger

Which of the following are source documents?

• Checks

• Emails

• Receipts

• Note

• Calculator Tapes

Which of the following is the definition for journals?

• A form of recording transactions in chronological order

• Recording transactions in a journal

• A list of accounts used by a business

• A business paper from which information is obtained for a journal entry

Select the following that are types of journals:

• General Journal

• Bank Journal

• Purchases Journal

• Sales Journal

What is the correct definition for ledger?

• A group of transactions

• A group of journals

• A group of accounts

The following definition describes which journal: a ledger that contains all accounts needed to prepare financial statements.

• Accounts Receivable Ledger

• General Ledger

• Accounts Payable Ledger

Select the correct term for the following definition: finding the difference between the total of the debit and credit entries in a particular account.

• Posting

• Ledger

• Balancing Off

• Journalizing