The Accounting Cycle Quiz
Authored by MIN KYUNG KIM
Business
10th Grade
DOK Level 1: Recall covered
Used 1+ times
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in the accounting cycle?
Publish the story
Capture activity of a business
Organize into groups and edit
Archive
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the activity of a business captured in the accounting cycle?
By posting journal entries
By closing the books
By creating financial statements
With a journal entry
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'organize into groups and edit' involve in the accounting cycle?
Conducting an audit
Preparing tax returns
Organizing information into accounts
Creating a budget
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of publishing the story in the accounting cycle?
To conduct an audit
To generate financial statements
To create a budget
To prepare the books for the next period
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the final step in the accounting cycle?
Capture activity of a business
Organize into groups and edit
Publish the story
Archive
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'archive' step involve in the accounting cycle?
Closing the process to prepare the books for the next period
Creating a budget
Generating financial statements
Conducting an audit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a step in the accounting cycle?
Capture activity of a business
Organize into groups and edit
Publish the story
Conduct an audit
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