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WorksheetsAccounting Cycle
Total questions: 11
Worksheet time: 6mins
The accounting cycle begins by recording _____________ in the form of journal entries.
Business transactions
Financial information
Corporate minutes
Business contracts
The accounting cycle begins by recording _____________ in the form of journal entries.
A. business transaction
B. financial information
C. corporate minutes
D. business contracts
After a business transaction has occurred, journal entries are recorded in the
ledger
journal
expense accounts
Once journal entries are recorded, they can be posted to:
ledger
income statement
expenses account
The purchase journal is
used only to record credit purchases
used only to record cash purchases
used to record all purchases
all of the above
The overall purpose of accounting is to
maintain accurate reports.
compile the business’s expenses.
keep track of sales.
control the finances of the business.
Which of the following groups makes regular use of a business’s managerial accounting information:
Managers
Customers
Creditors
Investors
An individual who has been state certified to provide accounting services ranging from the preparation of financial records to complex audits.
Accounting
Certified Accountant
Cash Flow
Budget
Book of original entry
1st step
2nd steps
3rd steps
4th steps
Trial Balance
2nd steps
3rd steps
4th steps
5th steps
