Bookkeeping 1.1
Authored by Dawn Hester
Business
9th - 12th Grade
Used 28+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a person who enters the numbers into the accounting books
bookkeeper
accountant
business owner
entrepreneur
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
when you record all the transactions only when cash actually changes hands
cash-basis method
accrual method
accounting
bookkeeping
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
when you record the transaction when the transaction is completed, even if cash has not yet changed hands
cash-basis method
accrual method
accounting
bookkeeping
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
You should never use the cash-basis accounting method if...
your business carries over inventory
your business allows customers to buy on store credit
you have an accountant
your business has a credit card
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
You should never use the cash-basis accounting method if...
you decide to incorporate your business
you have gross annual sales of more than $5 million
you have an accountant
your business has a credit card
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A sole proprietor is
a single owner
a partnership group
a fish salesman
a business expert
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you change your accounting method, you must...
file a form with the IRS
get a new computer
start a new piece of paper
get an accountant
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