
FBLAACCT1 2004
Quiz
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others
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•
Practice Problem
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Hard
Martha Reese
FREE Resource
Enhance your content in a minute
40 questions
Show all answers
1.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
1. When a business uses a petty cash fund, the fund is debited each time it is replaced.
2.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
2. A debit to an account is always an increase.
3.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
3. When a business buys equipment, the bookkeeper credits the asset account.
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
4. To determine the interest on a promissory note, the accountant will need to know principal, interest, rate and term.
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
5. A payee is the person or business to whom a check is payable.
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
6. Today the Federal Tax Reform law only requires persons who are over two years old to have a social security number.
7.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
7. A bonus, rather than a commission, is an amount paid to an employee as a percentage of sales.
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