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ACCOUNTING 2 PRE/POST-ASSESSMENT

Total questions: 70

Worksheet time: 53mins

Name
Class
Date
1.

Accounts Payable classification

a)

Asset

b)

Liability

c)

Owner's Equity

d)

Revenue

e)

Expense

2.

Utilities Expense has a normal (a)   balance.

3.

Accounts Receivable is classified as a(n)

a)

Asset

b)

Liability

c)

Stockholder's Equity

d)

Cost of Merchandise

e)

Expense

4.

The normal balance of Uncollectible Accounts Expense is (a)   .

5.

Advertising Expense is classified as a(n)

a)

Asset

b)

Liability

c)

Stockholder's Equity

d)

Revenue

e)

Expense

6.

Supplies Expense has a normal (a)   balance.

7.

Capital Stock is classified as a(n)

a)

Asset

b)

Liability

c)

Stockholder's Equity

d)

Cost of Merchandise

e)

Revenu

8.

Cash is classified as a(n)

a)

Asset

b)

Liability

c)

Stockholder's Equity

d)

Revenue

e)

Expense

9.

Supplies has a normal (a)   balance.

10.

State Unemployment Tax Payable has a normal (a)   balance.

11.

Sales Tax Payable has a normal (a)   balance.

12.

Dividends are classified as a(n)

a)

Asset

b)

Liability

c)

Stockholder's Equity

d)

Cost of Merchandise

e)

Revenue

13.

Employee Income Tax Payable is classified as a(n)

a)

Asset

b)

Liability

c)

Owner's Equity

d)

Revenue

e)

Cost of Merchandise

14.

Sales Returns and Allowances has a normal (a)   balance.

15.

Sales Discounts has a normal (a)   balance.

16.

Sales has a normal (a)   balance.

17.

Equipment is classified as a(n)

a)

Asset

b)

Liability

c)

Owner's Equity

d)

Revenue

18.

Federal Income Tax Payable is classified as a(n)

a)

Asset

b)

Liability

c)

Stockholder's Equity

d)

Revenue

e)

Cost o Merchandise

19.

Salaries Expense has a normal (a)   balance.

20.

Federal Unemployment Tax Payable is classified as a(n)

a)

Expense

b)

Asset

c)

Revenue

d)

Liability

21.

Retained earnings has a normal (a)   balance.

22.

Income Tax Payable is classified as a(n)

a)

Revenue

b)

Cost of Merchandise

c)

Liability

d)

Asset

23.

Rent Expense has a normal (a)   balance.

24.

Insurance Expense is classified as a(n)

a)

Expense

b)

Liability

c)

Asset

d)

Revenue

25.

Interest Expense is classified as a(n)

a)

Liability

b)

Owner's Equity

c)

Revenue

d)

Cost of Merchandise

e)

Expense

26.

Purchases Returns and Allowances has a normal (a)   balance.

27.

Purchase Discounts has normal (a)   balances.

28.

Interest Receivable is classified as a(n)

a)

Cost of Merchandise

b)

Stockholder's Equity

c)

Asset

d)

Liability

e)

Revenue

29.

Purchases has a normal (a)   balance.

30.

Prepaid Insurance has a normal (a)   balance.

31.

Merchandise Inventory is classified as a(n)

a)

Cost of Merchandise

b)

Owner's Equity

c)

Revenue

d)

Liability

e)

Asset

32.

Petty Cash has a normal (a)   balance.

33.

Notes Payable is classified as a(n)

a)

Revenue

b)

Liability

c)

Cost of Merchandise

d)

Owner's Equity

34.

Notes Receivable has a normal (a)   balance.

35.

Payroll Tax Expense has a normal (a)   balance.

36.

Notes Payable has a normal (a)   balance.

37.

Merchandise Inventory has a normal (a)   balance.

38.

Interest Receivable has a normal (a)   balance.

39.

Interest Expense has a normal (a)   balance.

40.

Insurance Expense has a normal (a)   balance.

41.

Income Tax Payable has a normal (a)   balance.

42.

Notes Receivable is classified as a(n)

a)

Cost of Merchandise

b)

Liability

c)

Asset

d)

Owner's Equity

e)

Revenue

43.

Payroll Tax Expense is classified as a(n)

a)

Liability

b)

Expense

c)

Asset

d)

Revenue

44.

Petty Cash is classified as a(n)

a)

Owner's Equity

b)

Liability

c)

Revenue

d)

Asset

45.

Prepaid Insurance is classified as a(n)

a)

Asset

b)

Liability

c)

Owner's Equity

d)

Revenue

46.

Purchases is classified as a(n)

a)

Asset

b)

Stockholder's Equity

c)

Cost of Merchandise

d)

Revenue

47.

Federal Income Tax Payable has a normal (a)   balance.

48.

Federal Unemployment Tax Payable has a normal (a)   balance.

49.

Equipment has a normal (a)   balance.

50.

Employee Income Tax Payable has a normal (a)   balance.

51.

Dividends has a normal (a)   balance.

52.

Purchases Discounts is classified as a(n)

a)

Asset

b)

Stockholder's Equity

c)

Cost of Merchandise

d)

Liability

53.

Purchases Returns and Allowances is classified as a(n)

a)

Cost of Merchandise

b)

Stockholder's Equity

c)

Purchases

d)

Allowances

e)

Returns

54.

Rent Expense is classified as a(n)

a)

Revenue

b)

Expense

c)

Liability

d)

Owner's Equity

e)

Asset

55.

Retained Earnings is classified as a(n)

a)

Owner's Equity

b)

Asset

c)

Revenue

d)

Stockholder's Equity

56.

Salaries Expense is classified as a(n)

a)

Asset

b)

Liability

c)

Revenue

d)

Expense

57.

Sales is classified as a(n)

a)

Asset

b)

Expense

c)

Revenue

d)

Liability

58.

Sales Discounts is classified as a(n)

a)

Asset

b)

Liability

c)

Owner's Equity

d)

Revenue

e)

Expense

59.

Sales Returns and Allowances is classified as a(n0

a)

Asset

b)

Liability

c)

Stockholder's Equity

d)

Expense

e)

Revenue

60.

Cash has a normal (a)   balance.

61.

Sales Tax Payable is classified as a(n)

a)

Asset

b)

Liability

c)

Owner's Equity

d)

Revenue

e)

Expense

62.

Capital Stock has a normal (a)   balance.

63.

State Unemployment Tax Payable is classified as a(n)

a)

Asset

b)

Cost of Merchandise

c)

Liability

d)

Stockholder's Equity

64.

Advertising Expense has a normal (a)   balance.

65.

Supplies is classified as a(n)

a)

Liability

b)

Revenue

c)

Expense

d)

Asset

66.

Accounts Receivable has a normal (a)   balance.

67.

Supplies Expense is classified as a(n)

a)

Expense

b)

Liability

c)

Asset

d)

Owner's Equity

e)

Revenue

68.

Accounts Payable has a normal (a)   balance.

69.

Uncollectible Accounts Expense is classified as a(n)

a)

Cost of Merchandise

b)

Asset

c)

Stockholder's Equity

d)

Owner's Equity

e)

Expense

70.

Utilities Expense is classified as a(n)

a)

Cost of Merchandise

b)

Asset

c)

Owner's Equity

d)

Expense

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