Multiple Choice
What is the purpose of a non-posting account?
A) To calculate income.
B) To track information necessary for the accounting system.
C) To calculate expenses.
D) To identify owner's equity.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Balance Sheet accounts are also called:<br>A)Permanent accounts<br>B)Temporary
Q3: Briefly explain the purpose of account numbers
Q4: Which of the following is a temporary
Q5: Which account below is not an Expense
Q6: What does the Chart of Accounts list?<br>A)Assets,liabilities
Q7: Non-posting accounts:<br>A)Track information required for the accounting
Q8: Which of the following is an asset?<br>A)Mortgage
Q9: Which of the following is not considered
Q10: Which of the following is a liability?<br>A)Accounts
Q11: The Income Statement:<br>A)Lists the accounts and account