Recording Financial Transactions
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Special Education
University
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15 questions
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1.
MULTIPLE SELECT QUESTION
1 min • 1 pt
What type of account is Accounts Payable?
Assets
Expenses
Liabilities
Revenues
2.
MULTIPLE SELECT QUESTION
1 min • 1 pt
What type of account is Account Receivable?
Assets
Expenses
Liabilities
Revenues
3.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
What type of account is
"Prepaid Insurance"?
Owner's Equity
Expenses
Assets
Liabilities
4.
FILL IN THE BLANKS QUESTION
2 mins • 1 pt
A listing of the accounts in order to determine whether debits are equal to credits is a (a)
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The book of original entry is the definition of a __________.
Journal
Ledger
6.
FILL IN THE BLANKS QUESTION
2 mins • 1 pt
When a sale is made on credit, the seller will debit the asset account "Accounts (a) "
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Financial accounting is focused on the __________ financial statements of a company.
Internal
External
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