WorksheetsAccounting Review Game
Total questions: 22
Worksheet time: 5mins
What is Forensic Accounting?
Recording and classifying accounting transactions
Assisting court and litigation cases as well as investigations of white collar crimes
Manage the books of what one has been entrusted
Helps manage the business forms, records and computer software
What is Auditing?
Providing financial information to the management internally
Recording and classifying accounting transactions
Manage the books of what one has been entrusted
Evaluating and financial information for errors and efficiency
What is Tax Accounting?
Helps manage the business forms, records and computer software
Recording and classifying accounting transactions
Providing financial information to the management internally
Helps to follow the tax laws and rules
The belief that a company's financial activities are distinct from the personal transactions of its owners or shareholders.
Business Entity
Going Concern
Accounting Period
The assumption that a business will keep running and is not about to close down or diminish its operations in the foreseeable future.
Business Entity
Going Concern
Accounting Period
The accountant's report shows how much profit the business earned
for one month.
Business Entity
Going Concern
Accounting Period
Accounting reports may cover a month, quarter, or a year.
Business Entity
Going Concern
Accounting Period
A creditor's claim to the property of an individual or business is called:
An equity
An asset
A liability
A business owner's claim to the property of the business is called:
An equity
An asset
A liability
A business owner's claim to the property of the business is called:
An equity
An asset
A liability
The money a business earns is:
An equity
An asset
A liability
The normal balance of an account is always on the:
Side used to record increases
Credit side of the account
Side of the current account balance
Debit side of the account
In double entry accounting, a debit is an entry on the _____ side of an account
Right side of an account
Left side of an account
On the normal balance side
No side
What is a ledger often referred to as in accounting?
The bank statement
The book you balance accounts in
Chart of accounts
General ledger
T accounts are an efficient tool to analyze
Business transactions
Investment transactions
Credit transactions
Double-entry accounting transactions
T Accounts of Asset accounts show increases in value from transactions on the (a) side of the T account.
T Accounts of Owner's Equity accounts show increases in value from transactions on the (a) side of the T account.
T Accounts of Liability accounts show decreases in value from transactions on the (a) side of the T account.
The normal balance of an Asset account is shown on a t account on the (a) side of the T account.
The normal balance of a Liability account is shown on the (a) side of the T account.
Assets = (a) + Owner's Equity
Office Supplies
Cash in Bank
Accounts Payable
Utility Expenses
Mr. Wade, Capital
Building
Revenue
Owner's Withdrawals
