Question 1

The entire group of accounts and their balances maintained by a company is called the

Accepted Answer

A) chart of accounts. 
B) general journal. 
C) general ledger. 
D) trial balance. 
A) chart of accounts. 
B) general journal. 
C) general ledger. 
D) trial balance.

Question 2

Which one of the following represents the expanded basic accounting equation?

Accepted Answer

A) Assets = Liabilities + Common stock + Retained Earnings + Dividends - Revenues - Expenses. 
B) Assets + Dividends + Expenses = Liabilities + Common stock + Retained Earnings + Revenues. 
C) Assets - Liabilities - Dividends = Common stock + Retained Earnings + Revenues - Expenses. 
D) Assets = Revenues + Expenses - Liabilities. 
A) Assets = Liabilities + Common stock + Retained Earnings + Dividends - Revenues - Expenses. 
B) Assets + Dividends + Expenses = Liabilities + Common stock + Retained Earnings + Revenues. 
C) Assets - Liabilities - Dividends = Common stock + Retained Earnings + Revenues - Expenses. 
D) Assets = Revenues + Expenses - Liabilities.

The entire group of accounts and their balances maintained by a company is called the

Which one of the following represents the expanded basic accounting equation?

Accounting in Action

Adjusting the Accounts

Completing the Accounting Cycle

Accounting for Merchandising Operations

Inventories

Fraud, Internal Control and Cash

Accounting for Receivables

Plant Assets, Natural Resources and Intangible Assets

Liabilities

Corporations: Organisations, Stock Transactions and Stockholders Equity

Statement of Cash Flows

Financial Analysis: the Big Picture

Time Value of Money

Payroll Accounting

Other Significant Liabilities

Filters

Exam 2: The Recording Process

The entire group of accounts and their balances maintained by a company is called the

Which one of the following represents the expanded basic accounting equation?

Accounting in Action

Adjusting the Accounts

Completing the Accounting Cycle

Accounting for Merchandising Operations

Inventories

Fraud, Internal Control and Cash

Accounting for Receivables

Plant Assets, Natural Resources and Intangible Assets

Liabilities

Corporations: Organisations, Stock Transactions and Stockholders Equity

Statement of Cash Flows

Financial Analysis: the Big Picture

Time Value of Money

Payroll Accounting

Other Significant Liabilities

Filters