Multiple Choice
Match the terms with the definitions.
-A form used to pull together all of the information needed to enter adjusting entries and prepare the financial statements.
A) Adjusted Trial Balance columns
B) Adjusting entries
C) Balance Sheet columns
D) book value
E) contra-asset
F) depreciable cost
G) depreciation
H) fiscal year
I) historical cost principle
J) Income Statement columns
K) market value
L) matching principle
M) plant assets
N) salvage value
O) straight-line method
P) undepreciated cost
Q) useful life
R) work sheet
Correct Answer:

Verified
Correct Answer:
Verified
Q19: The original cost of an asset added
Q20: The time an asset is expected to
Q21: Match the terms with the definitions.<br>-The third
Q22: An account used with a related account
Q23: If the debits in the Income Statement
Q25: If the book value of an asset
Q26: The balance sheet reports<br>A) liabilities.<br>B) revenue.<br>C) expenses.<br>D)
Q27: Match the terms with the definitions.<br>-An account
Q28: When an account balance is not affected
Q29: Journalize the necessary year-end adjusting entries