WorksheetsFABM 1 -Diagnostic quiz
Total questions: 15
Worksheet time: 5mins
The process of recording entries in a journal.
Accounting
Journalizing
Posting
Finance
The Four Phases of Accounting
recording,
classifying,
summarizing,
interpreting
recording,
summarizing,
interpreting,
reporting
writing,
recording,
interpreting,
reporting
interpreting,
analyzing,
summarizing,
recording
The simplified ledger used in posting journal entries
General Ledger
General Journal
T-Accounts
Book
What is R in ALCRE?
Resources
Real Estate
Rent
Revenue
What Type of Major Account is this account title?
NOTES PAYABLE
Asset
Liability
Revenue
Expense
What Type of Major Account is this account title?
Prepaid Expenses
Asset
Liability
Revenue
Expense
What Type of Major Account is this account title?
MACHINERY
Asset
Liability
Revenue
Expense
What Type of Major Account is this account title?
SALES
Asset
Liability
Revenue
Expense
The BASIC ACCOUNTING EQUATION
A + L = C
L - A = C
A = L + C
A = L - C
The correct order of the accounting cycle
Posting - Adjusting Entries - Journalizing -Unadjusted Trial Balance
Posting -
Journalizing - Unadjusted Trial Balance
Journalizing- Adjusting Entries -
Posting - Unadjusted Trial balance
Journalizing - Posting - Unadjusted -Trial Balance - Adjusting Entries -
The normal balance of Accounts Receivable
Credit
Debit
Unknown
None of the above
The normal balance of Service Income.
Credit
Debit
Unknown
None of the above
Unearned Sales/Unearned Sales Revenue is under what type of Major Account
Asset
Liability
Capital
Revenue
COGS is under what type of Major Account
Asset
Liability
Expenses
Revenue
What is the normal balance of Accumulated Depreciation- Building.
Asset
Liability
Expenses
Revenue
