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Accounting Summit 23

Authored by Tracy Rorrer

Computers

9th - 12th Grade

Used 1+ times

Accounting Summit 23
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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where would you find T-accounts?

general ledger

general journal

balance sheet

income statement

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _____ is a list of all general ledger accounts contained in the ledger of a business.

Closing entry

Trial balance

Adjusted trial balance

Financial statement

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who or what does a company's financial statements represent?

The company's employees

The customers

They do not represent anything

The company itself

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Assets are:

an obligation of the company to transfer something of value

the value of a company to its owner

an item of value owned by a company

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Solve: 150% of $84

42

72

126

168

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To help organize transactions, a business needs to set up a system of ________.

accounts

transaction records

debits and credits

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________ are recorded on the left-hand column of an accounting journal.

Debits

Credits

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