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Who uses accounting information?
Accountants and the IRS
Accountants, Business Owner's, Employees
Business Owner's and the Accountants
Accountants
Which of the following is NOT one of the 3 activities that involve accounting within a business?
Investing
Marketing
Operating Activities
Financing
Define GAAP
Generally Accepted Accounting Principles
Generally Accepted Accountants Procedure
Great American Accountants Progress
Great American Accounting Principles
Which is the correct accounting equations?
Liabilities = Owners Equity + Assets
Assets = Liabilities + Owner's Equity
LIabilities = Owner's Equity = Assets
Assets + Liabilities = Owner's Equity
Accrual Accounting records cash transactions....
When the cash actually changes hands
When they actually occur
Cash Accounting Occurs...
When the cash actually changes hands
When the transactions occurs
Which of the following is NOT one of the 4 Financial Statements?
Balance Sheet
Income Statement
Cash Flow Statement
Check register
When recording transactions in a journal they are to be ordered by:
Chronologically
By Account
Largest to smallest
The recording of debit and credit parts of a transaction is called?
Double Entry Accounting
Bookkeeping
Single Entry Accounting
Accounting
A business paper from which information is obtained for a journal entry is called a
Receipt
Source Document
Proof of Purchase
A form describing the goods or services sold, the quantity, and the price is called
tape
Memo
Sales Receipt
Invoice
A business form ordering a bank to pay cash from a bank account is called?
Credit
Check
Invoice
Memo
A form on which a brief message is written describing a transaction
Invoice
Memo
Check
Sales Recepit
A business form giving written acknowledgement for cash received
Memo
Check
Invoice
Receipt
A ledger that contains all accounts needed to prepare financial statements.
Ledger
Chart of Accounts
Journal
The number assigned to an account.
Reference Number
Source Document
Account Title
Account Number
