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5 Written questions

5 Matching questions

  1. Net income
  2. Journal
  3. Accounting equation
  4. Financial statements
  5. Business ethics
  1. a A form for recording transactions in chronological order
  2. b the use of ethics in making business decisions
  3. c assets= liabilities + owner's equity
  4. d financial reports that summarize the financial condition and operations of a business
  5. e The difference between total revenue and total expenses when total revenue is greater

5 Multiple choice questions

  1. the name given to an account
  2. a bank card that automatically deducts the amount of a purchase from the checking account of the cardholder
  3. a report of deposits, withdrawals, and bank balances sent to a depositor by a bank
  4. a check that a bank refuses to pay
  5. a decrease in owner's equity resulting from the operation of a business

5 True/False questions

  1. Income Statementa report of deposits, withdrawals, and bank balances sent to a depositor by a bank

          

  2. Accounting recordsorganized summaries of a business's financial activities

          

  3. General Journala journal with two amount columns in which all kinds of entries can be recorded

          

  4. Invoiceform describing the goods or services sold

          

  5. Accounting systema planned process for providing financial information that will be useful to management

          

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