Chapter 4 Acct Quiz

Quiz
•
Instructional Technology
•
10th Grade
•
Hard
Keisha Wagener
Used 2+ times
FREE Resource
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Posting sorts journal entries so that all debits and credits affecting each account are brought together in one place.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A separate form for each account is used to summarize all the changes to a single account.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A list of account titles and numbers showing the location of each account in a ledger is known as a(n)
chart of accounts.
account summary.
T account form.
balance-ruled account form.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A group of accounts is called a(n)
ledger.
group.
account summary.
chart of accounts.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A general ledger contains all accounts needed to prepare financial statements.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A chart of accounts is a
line graph showing increases and decreases of account balances in the past year.
list of all the accounts on the balance sheet.
list of all the accounts on the income statement.
None of the answers are correct.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounts in a general ledger are arranged in the same order as they appear on financial statements.
True
False
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