English test1. . The following comments each relate to the recording of journal entries. Which statement is true?
don%27t , does , doesn%27t , isn%27t ,
2. Which of the following would not be included on a balance sheet?
can , will , are , would ,
3. Of the following account types, which would be increased by a debit?
Have, Are, Did , Had ,
4. A: I like shopping alone but my wife insisted ___________ too. B: I think it%27s more fun together too.
make , gets build your own quiz , has , is ,
5. . Failure to record the receipt of a utility bill for services already received will result in:
on , of , to , in ,
6. . A: What __________ you doing? B: I am opening this box.
in , about , of , on,
7. Which of these items would be accounted for as an expense?
on coming , to come, for coming, coming ,
8. The trial balance:
think to, decide on, change up, make up,
9. A: Does she like swimming? B: No, she _____ .
want , like , prefer, rather,
10. . A: Do you like the theatre? B: Sometimes, it depends ___ the play.
Cost accounting, Auditing, Financial accounting., Managerial accounting.,
11. A: What _____ you like to drink? B: A glass of water, please.
Cash = assets, Assets = owner%27s equity., Assets %2b liabilities = owner%27s equity., Assets - liabilities = owner%27s equity,
12. A: Do you like your teacher? B: Yes, but she always ___ annoyed when I ask questions. • a)
Payment of the current period%27s rent, The purchase of land., Dividends to stockholders., Repayment of a bank loan,
13. A: Would you like to go out tonight? B: Not really – I%27d ________ stay at home and watch TV.
Cash, Sales., Accounts payable., Accounts receivable. ,
14. . A: Do you like photography? B: Not really, but I%27m quite interested ___ art.
Equity and revenues., Assets and expenses., Assets and equity., Liabilities and expenses.,
15. Which of the following transactions would have no impact on stockholders%27 equity?
Provides a listing of the balance of each account in active use., Provides a listing of every account in the chart of accounts., Is used to prove that there are no errors in the journal or ledger., Is a formal financial statement.,
16. A: Do you think you will take that job? B: I don%27t know. I can%27t _______ my mind.
The chart of accounts reveals the amount to debit and credit to the affected accounts., It is customary to record credits on the left and debits on the right., For any given journal entry, debits must exceed credits., Journalization is the process of converting transactions and events into debit/credit format,
17. somewhat unique and important service of public accountants is:
Investments of cash by stockholders., Purchase of land from the proceeds of a bank loan., Net loss., Dividends to stockholders.,
18. A: _____ you ever seen a Golden Eagle? B: Yes, I have. It was in Scotland.
An understatement of assets, An overstatement of equity, An overstatement of liabilities., An overstatement of assets.,
19. Gerald had beginning total stockholders%27 equity of $160,000. During the year, total assets increased by $240,000 and total liabilities increased by $120,000. Gerald%27s net income was $180,000. No additional investments were made; however, dividends did occur during the year. How much were the dividends?
$220,000, $20,000. dynamic quiz , $140,000, $60,000,