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Accounting Chapter 4 Test

Authored by Antje Carter

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Accounting Chapter 4 Test
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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A journal shows in one place all the changes in a single account.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Account numbers may be assigned by 10s so that new accounts can be added easily.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The procedure of arranging accounts in a general ledger, assigning account numbers, and keeping records current is posting.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a business has only two asset accounts, Cash and Supplies, the two accounts are numbered 110 and 120.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A group of accounts is called a ledger.

True
False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A journal page number is written in the Post. Ref. column of an account to show that posting of the entry is completed.

True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The account number is placed in the Post. Ref. column of the journal as the last step in the posting procedure.

True
False

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