Accounting Book 2 Question Preview (ID: 44412)
Accounting Book 2.
TEACHERS: click here for quick copy question ID numbers.
A record that summarizes all the characteristics of a single item of the equation.
a) account
b) journal
c) source document
d) chart of accounts
The computed balance of an account after all debits and credits have been posted.
a) account balance
b) liquidity
c) asset
d) source document
The name given to any account.
a) account title
b) entry
c) credit
d) debit
A form that shows the financial position of a business on a specific date.
a) balance sheet
b) journal
c) ledger
d) account
A balance sheet prepared on the day the business starts.
a) beginning balance sheet
b) chart of accounts
c) source document
d) account
Any journal used in an accounting system
a) book of original entry
b) book of secondary entry
c) general ledger
d) chart of accounts
Any ledger used in an accounting system.
a) book of secondary entry
b) book of original entry
c) general journal
d) chart of accounts
A list of all accounts used by an entity indicating the identifying number, the account title and classification of each accounting equation item.
a) chart of accounts
b) general journal
c) general ledger
d) balance sheet
Any entry made in the right-hand amount column of a general journal.
a) credit
b) debit
c) posting
d) journalizing
Anyone to whom a business owes money.
a) creditor
b) account
c) balance sheet
d) liquidity
Any entry made in the left-hand amount column of a general journal.
a) debit
b) credit
c) posting
d) journalizing
A transaction recorded in a journal.
a) entry
b) liquidity
c) account
d) source document
Contains all the accounts needed to prepare financial statements.
a) general ledger
b) general journal
c) balance sheet
d) source document
A business form used for recording accounting information in chronological order.
a) journal
b) ledger
c) chart of accounts
d) balance sheet
Recording information in chronological order in the journal, using the source document as evidence of the business transaction.
a) journalizing
b) posting
c) account balance
d) beginning balance sheet
A group of accounts.
a) ledger
b) balance sheet
c) journal
d) source document
Ease of converting an item to cash.
a) liquidity
b) posting
c) journalizing
d) entry
Writing the account name and number as the heading for the account.
a) opening an account
b) posting
c) journalizing
d) beginning balance sheet
The process of transferring the information from a journal entry to the ledger accounts.
a) posting
b) journalizing
c) account balance
d) beginning balance sheet
A document that provides the necessary information to make a journal entry.
a) source document
b) account
c) entry
d) liquidity
Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 44412 in the upper right hand corner or click here.
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 44412 in the upper right hand corner or click here.
TEACHERS / EDUCATORS
Log In | Sign Up / Register
Log In | Sign Up / Register