Question 1

The recording of cash receipts to the cash account will be done by debiting the account.

Accepted Answer

A) True 
 B)False

Question 2

Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal.

Accepted Answer

A) True 
 B)False

Question 3

Accounts

Accepted Answer

A)  do not reflect money amounts 
B)  are not used by entities that manufacture products 
C)  are records of increases and decreases in individual financial statement items 
D)  are only used by large entities with many transactions 
A)  do not reflect money amounts 
B)  are not used by entities that manufacture products 
C)  are records of increases and decreases in individual financial statement items 
D)  are only used by large entities with many transactions

Question 4

The increase side of all accounts is the normal balance.

Accepted Answer

A) True 
 B)False

Question 5

A credit balance in which of the following accounts would indicate a likely error?

Accepted Answer

A)  Fees Earned 
B)  Salary Expense 
C)  Janet James, Capital 
D)  Accounts Payable 
A)  Fees Earned 
B)  Salary Expense 
C)  Janet James, Capital 
D)  Accounts Payable

Question 6

Which of the following entries records the payment of an account payable?

Accepted Answer

A)  debit Cash; credit Accounts Payable 
B)  debit Accounts Receivable; credit Cash 
C)  debit Cash; credit Supplies Expense 
D)  debit Accounts Payable; credit Cash 
A)  debit Cash; credit Accounts Payable 
B)  debit Accounts Receivable; credit Cash 
C)  debit Cash; credit Supplies Expense 
D)  debit Accounts Payable; credit Cash

The recording of cash receipts to the cash account will be done by debiting the account.

Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal.

Accounts

The increase side of all accounts is the normal balance.

A credit balance in which of the following accounts would indicate a likely error?

Which of the following entries records the payment of an account payable?

Introduction to Accounting and Business

The Adjusting Process

Completing the Accounting Cycle

Accounting Systems

Accounting for Merchandising Businesses

Inventories

Sarbanes-Oxley, Internal Control, and Cash

Receivables

Fixed Assets and Intangible Assets

Current Liabilities and Payroll

Accounting for Partnerships and Limited Liability Companies

Corporations: Organization, Stock Transactions, and Dividends

Long-Term Liabilities: Bonds and Notes

Investments and Fair Value Accounting

Statement of Cash Flows

Financial Statement Analysis

Filters

Exam 2: Analyzing Transactions

The recording of cash receipts to the cash account will be done by debiting the account.

Posting a part of a transaction to the wrong account will cause the trial balance totals to be unequal.

Accounts

The increase side of all accounts is the normal balance.

A credit balance in which of the following accounts would indicate a likely error?

Which of the following entries records the payment of an account payable?

Introduction to Accounting and Business

The Adjusting Process

Completing the Accounting Cycle

Accounting Systems

Accounting for Merchandising Businesses

Inventories

Sarbanes-Oxley, Internal Control, and Cash

Receivables

Fixed Assets and Intangible Assets

Current Liabilities and Payroll

Accounting for Partnerships and Limited Liability Companies

Corporations: Organization, Stock Transactions, and Dividends

Long-Term Liabilities: Bonds and Notes

Investments and Fair Value Accounting

Statement of Cash Flows

Financial Statement Analysis

Filters