Multiple Choice
Select the one term that best fits each definition
-An accounting device used to analyze transactions.
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
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
Q12: The first step in the posting procedure
Q13: On a work sheet, the balance of
Q15: When cash is paid for insurance,<br>A) Prepaid
Q16: The formula for calculating the net income
Q17: Select the one term that best fits
Q18: Select the one term that best fits
Q19: Select the one term that best fits