· Question 4
Salaries and wages payable is a type of expense.
· Question 5
Operating activities are the types of activities the company performs to
generate profits.
· Question 6
If total liabilities decreased by $4,000, then
· Question 7
An expense
· Question 8
Are advanced receipts from customers treated as revenue at the time of
receipt? Why or why not?
· Question 9
Which statement about an account is true?
· Question 10
Which one of the following represents the expanded basic accounting
equation?
· Question 11
Which of the following is not an example of a source document that provides
evidence of a transaction?
· Question 12
The primary purpose of the trial balance is to
· Question 13
Which of the following statements is not true?
· Question 14
All of the following are characteristics of every accounting information system
except it is a system
· Question 15
On June 1, 2014, England Inc. reported a cash balance of $21,000. During
June, England made deposits of $8,000 and made disbursements totaling
$24,000. What is the cash balance at the end of June?
· Question 16
All of the following statements regarding the double-entry system are true
except
· Question 17
Borrowing money and issuing shares of stock are
· Question 18
The purpose of the ledger is to
· Question 19
Which statement is incorrect?