Multiple Choice
Select the one term that best fits each definition
-A list of accounts used by a business.
A) accounting system
B) accrual basis of accounting
C) adjusting entries
D) balance sheet
E) chart of accounts
F) closing entries
G) creditor
H) expense
I) posting
J) income statement
K) permanent accounts
L) revenue
M) T account
N) temporary accounts
O) trial balance
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Select the one term that best fits
Q2: Select the one term that best fits
Q4: If an error is recorded in a
Q5: Select the one term that best fits
Q6: Reporting changes in financial information for a
Q7: The formula for calculating net income is
Q8: The drawing account is a permanent account.
Q9: The entry to establish a $200.00 petty
Q10: Temporary accounts are used to accumulate information
Q11: Select the one term that best fits