Miscellaneous Quiz / Accounting Midterm Review

Random Miscellaneous Quiz

Can you name the Accounting Midterm Review?

Quiz not verified by Sporcle

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

You're not logged in!

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

You Might Also Like...

Show Comments

Extras

Top Quizzes Today


Score Distribution

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.