Accounting III - Chapter 21

Accounting III - Chapter 21

12th Grade

23 Qs

quiz-placeholder

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Accounting III - Chapter 21

Accounting III - Chapter 21

Assessment

Quiz

Other

12th Grade

Hard

Created by

Kris Miller

Used 7+ times

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23 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Expenses incurred in one fiscal period but not paid until a later fiscal period.

deferral

accrual

accrued expenses

deferred expenses

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Payments for goods or services which have not yet been received.

accrued expenses

deferred expenses

deferred revenue

accrued interest expense

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

An entry made at the beginning of one fiscal period to reverse an adjusting entry made in the previous fiscal period.

correcting entry

reversing entry

adjusting entry

none of the above

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

An entry recording revenue before the cash is received, or an expense before the cash is paid.

accrual

deferral

deferred revenue

deferred expenses

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Cash received for goods or services which have not yet been provided.

accrual

deferral

deferred revenue

accrued interest expense

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Interest incurred but not yet paid

accrued interest expense

deferred interest expense

interest expense

none of the above

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

An entry recording the receipt of cash before the related revenue is earned, or payment of cash before the related expense is incurred

accrual

deferral

deferred revenue

deferred expenses

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