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5 Written questions

5 Matching questions

  1. Entry
  2. Invoice
  3. t account
  4. ledger
  5. Proprietorship
  1. a form describing the goods or services sold
  2. b An accounting device used to analyze transactions
  3. c a business owned by one person
  4. d group of accounts
  5. e Information for each transaction recorded in a journal

5 Multiple choice questions

  1. an increase in owner's equity resulting from the operation of a business
  2. writing an account title and number on the heading of an account
  3. An endorsement restricting further transfer of a check's ownership
  4. the amount remaining after the value of all liabilities is subtracted from the value of all assets
  5. A business paper from which information is obtained for a journal entry

5 True/False questions

  1. Journalthe account used to summarize the owner's equity in a business


  2. Sale on accountAn accounting device used to analyze transactions


  3. Balance SheetA columnar accounting form used to summarize the general ledger information needed to prepare financial statements


  4. EthicsA business form ordering a bank to pay cash from a bank account


  5. Financial statementsfinancial reports that summarize the financial condition and operations of a business