General Account
Interactive Video
•
Social Studies
•
University
•
Practice Problem
•
Hard
Arnajid Jimy
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a general ledger?
A type of asset
A financial report
A list of all employees
A record of all accounts used by a company
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a chart of accounts?
To track employee performance
To calculate taxes
To list all ledger accounts of a company
To manage customer relationships
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do companies use specific names for their accounts?
To make it harder to find accounts
To maintain consistency in naming
To follow government regulations
To confuse their employees
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do the numbers in a chart of accounts help with?
Tracking sales
Calculating profits
Cataloging purposes
Identifying employees
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does an account record?
Only increases in assets
Only revenues
Increases and decreases in specific items
Only decreases in liabilities
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