Miscellaneous / Accounting Midterm Review

Random Miscellaneous Quiz

Can you name the Accounting Midterm Review?

Quiz not verified by Sporcle

Also try: A-Z Keypad Blitz
Score 0/60 Timer 20:00
the work sheet is________.
the second step in the accounting cycle is______?
The Accounting Cycle
$32000(asset) = ________ + $15600(owners equity)
Net income is the ____________.
a fiscal year is how long?
Property is anything a business owns (True/False?)
the revenue and expense accounts are listed in the _________section of the work sheet
a source document is________.
The normal balance is recorded______?
A debit increases on the______?
Posting is the process of transferring in formation from _______ to ________.
Double entry accounting recognizes the two sides of the business transactions as_____?
A single rule means?
A memorandum is _________.
Assets increase on the __________ side?
the fourth step in the accounting cycle is ________?
Mistakes are corrected using a _____.
Assets and liabilities __________ accounts?
Buying on credit is the same as buying on account. (True/False?)
What is a chart of accounts?
Leger account forms record ___________ accounts.
An invoice________.
the fifth step in the accounting cycle is ______.
What is Revenue?
Accounts payable has a normal______balance?
A trial balance is______.
Cash in Bank, Computer Equipment, and Accounts Receivable are all _______s?
A journal is a ________.
the third step in the accounting cycle is ________?
The balance sheet section of the includes ______ , _______, and _______ accounts.
What number do asset accounts begin at?
Cash in Bank has a normal______balance?
What is a liability?
The 6th step in the accounting cycle is_____.
withdrawals has a normal______balance?
Grooming Revenue has a normal_______balance?
Accounts Payable is considered a ________?
Revenue, expense, and withdrawals are________ accounts?
What are Expenses?
Expenses increase on the ________ side?
Capital has a normal_______ balance?
A slide error occurs when_______.
Net loss occurs when ________ is higher than ________.
Liabilities increase ont the __________ side?
Adding the credit and debits and comparing them is called?
the act of putting the transactions in the journal is called_________.
A transposition error occurs when?
Revenue recognition is when business owners_______?
A general journal is an _______ purpose journal?
A credit increases on the______?
What is a withdrawal?
A receipt ________.
Capital and withdrawals are both considered______ _____?
a calendar year spans between what two dates?
A T account helps organize accounts by_____?
the first step in the accounting cycle is_______?
Should the business owner mix private and business accounts?
A check stub _________.
Financial claim is the creditors legal right to the item (True/False?)

You're not logged in!

Compare scores with friends on all Sporcle quizzes.
Sign Up with Email
Log In

You Might Also Like...

Show Comments


Your Account Isn't Verified!

In order to create a playlist on Sporcle, you need to verify the email address you used during registration. Go to your Sporcle Settings to finish the process.