
Accounting Summit 23
Quiz
•
Computers
•
9th - 12th Grade
•
Practice Problem
•
Easy
Tracy Rorrer
Used 1+ times
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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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