
Accounting Quiz
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Revenue not yet earned; collected in advance
Accrued Expense
Deferred Revenue
Accrued Revenue
Deferred Expense
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Revenue earned, not yet collected
Accrued Expense
Deferred Revenue
Accrued Revenue
Deferred Expense
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Expense not yet incurred, paid in advance
Accrued Expense
Deferred Revenue
Accrued Revenue
Deferred Expense
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Expense incurred, not yet paid
Accrued Expense
Deferred Revenue
Accrued Revenue
Deferred Expense
5.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
An accounting method in which revenues are reported in the period in which they are earned, and expenses are reported in the period in which they are incurred
6.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
The entry required at the end of an accounting period to bring the accounts up to date and to ensure the proper matching of income and expenses.
7.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
The difference between the accumulated depreciation account and the related property and equipment account
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