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Accounting Final Review

Authored by Kaitlyn Crump

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Accounting Final Review
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42 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

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

transaction
balance sheet
source document
income statement

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

A business that performs an activity for a fee

service business
retail business
merchandising business
proprietorship

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

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

ledger
journal
worksheet
checkbook

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

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

closing
adjusting
daily
t-account

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Transferring information from a journal entry to a ledger account

journalizing
transacting
trial balance
posting

6.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

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

trial balance
bank reconciliation
proving cash
worksheet

7.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

A business owned by one person

corporation
partnership
sole proprietorship
service

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