NAME

Question types


Start with


Question limit

of 21 available terms

Advertisement Upgrade to remove ads
Print test

5 Written questions

5 Matching questions

  1. journal
  2. accrual accounting
  3. posting
  4. accrued revenue
  5. deferred revenue
  1. a revenue recognized prior to the receipt of cash
  2. b the process of transferring transactions to specific accounts in a company's ledger
  3. c revenue recognized after cash has been received
  4. d a form of accounting in which revenues are recognized when they are earned and expenses are recognized when they are incurred
  5. e chronological record of a company's transactions

5 Multiple choice questions

  1. a liability account that results when a company receives cash from a customer for goods or services to be provided in the future
  2. a file in which each of a company's accounts and the balances of those accounts are maintained
  3. the process of recording, summarizing, and reporting accounting information
  4. the total amount of depreciation recorded for a company's assets
  5. an asset account that identifies a resource that has been paid for but not used

5 True/False questions

  1. accounts payablean asset account that increases when goods are sold on credit

          

  2. accrued expenseswhen expenses are recognized prior to the payment of cash

          

  3. general ledgera file in which each of a company's accounts and the balances of those accounts are maintained

          

  4. accounts receivablean asset account that increases when goods are sold on credit

          

  5. adjusting entrya transaction recorded in the accounting system to ensure the correct account balances are reported for a particular fiscal period

          

Create Set