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. posting
  2. depreciation
  3. deferred revenue
  4. general ledger
  5. unearned revenue
  1. a the process of transferring transactions to specific accounts in a company's ledger
  2. b a liability account that results when a company receives cash from a customer for goods or services to be provided in the future
  3. c the primary ledger a company uses to record its account balances
  4. d the allocation of the cost of assets to the fiscal periods that benefit from the assets' use
  5. e revenue recognized after cash has been received

5 Multiple choice questions

  1. when expenses are recognized prior to the payment of cash
  2. when expenses are recognized after the payment of cash
  3. an account that offsets another account
  4. chronological record of a company's transactions
  5. reset the balances of each revenue and expense account to zero and transfer these balances to retained earnings

5 True/False questions

  1. accounting cyclea liability account that identifies an obligation to pay suppliers in the near future

          

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

          

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

          

  4. accrued liabilitieswhen expenses are recognized prior to the payment of cash

          

  5. accumulated depreciationthe allocation of the cost of assets to the fiscal periods that benefit from the assets' use

          

Create Set