Search Header Logo

Accounting Final

Authored by Mary Hayes

Business

12th Grade

Used 5+ times

Accounting Final
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

24 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following is NOT a form of business?

Corporations

Partnership

CPA firm

Sole Proprietorship

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is accounting primarily concerned with?

Telling the results

Deciding the meaning and importance of information in various reports.

A system of gathering financial information about a business and reporting this information to users.

Looking at events that have taken place and thinking about how they affect business.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Any accounting period of twelve months' duration is usually referred to as what?

physical year

operational year

fiscal year

calendar year

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jason purchased office equipment for $4,800 on account. This transaction would:

increase one asset and decrease another asset

increase assets and increase owner's equity

increase assets and increase liabilities

decrease assets and decrease liabilities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A T account has which of the following three major parts?

a title, a current date, and a balance

a debit side, a credit side, and a balance

a title, a debit side, and a credit side

a title, a debit side, and a total column

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A debit:

decreases assets

increases liabilities

is on the left side

increases owner's equity

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A chronological record of financial transactions expressed as debits and credits to accounts is provided by the:

Journal

balance sheet

ledger

income statement

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?