Accounting: Part 1 Review

Accounting: Part 1 Review

9th - 12th Grade

25 Qs

quiz-placeholder

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Accounting: Part 1 Review

Accounting: Part 1 Review

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Antje Carter

Used 8+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An equation showing the relationship among assets, liabilities, and owner’s equity.

adjusting entries

balance sheet

accounting equation

closing entries

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

adjusting entries

balance sheet

chart of accounts

source document

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business that performs an activity for a fee.

adjusting entries

service business

proprietorship

source document

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A columnar accounting form used to summarize the general ledger information needed to prepare financial statements.

trial balance

closing entries

work sheet

balance sheet

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Journal entries used to prepare temporary accounts for a new fiscal period.

closing entries

post-closing trial balance

posting

trial balance

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Transferring information from a journal entry to a ledger account.

closing entries

trial balance

adjusting entries

posting

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A proof of the equality of debits and credits in a general ledger.

closing entries

trial balance

work sheet

posting

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