
Accounting I Fall TEKS Review
Quiz
•
Other
•
10th - 12th Grade
•
Medium
CARI DANIEL
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27 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The first step in the posting procedure is writing the
entry date in the Date column of the account.
journal page number in the Post. Ref. column of the journal.
journal page number in the Post. Ref. column of the journal.
entry amount in the Debit or Credit column of the account.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets taken out of a business for the personal use of the owner are called
net income
net loss
investments
withdrawals
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The entry to establish a $200.00 petty cash fund is
debit Petty Cash, $200.00; credit Cash, $200.00.
debit Petty Cash, $200.00; credit Miscellaneous Expense, $200.00
debit Miscellaneous Expense, $200.00; credit Cash, $200.00
debit Cash, $200.00; credit Petty Cash, $200.00
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If an amount is recorded on the side of a T account that is opposite the normal balance side, the account balance is
increased
decreased
unaffected
correct
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On a work sheet, the balance of the owner’s drawing account is extended to the
Income Statement Debit column.
Income Statement Credit column.
Balance Sheet Debit column
Balance Sheet Credit column
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Information needed to prepare an income statement’s Revenue section is obtained from a work sheet’s Account Title column and
Income Statement Debit column
Income Statement Credit column
Balance Sheet Debit column
Balance Sheet Credit column
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When cash is paid for insurance
Prepaid Insurance is decreased
Prepaid Insurance is credited
Prepaid Insurance is increased
none of these
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