ACC 557 TUTOR Great Stories /acc557tutor.com ACC 557 TUTOR Great Stories /acc557tutor.com | Page 19

journal→ ledger → analyze.
ledger→ journal → analyze.
journal→ analyze → ledger.
Multiple Choice Question 50
Which one of the following represents the expanded basic
accounting equation?
+ Common Stock + Retained Earnings + Dividends – Revenue –
Expenses.
Assets + Dividends + + Common Stock + Retained Earnings +
Revenues.
Assets – Liabilities – Stock + Retained Earnings + Revenues –
Expenses.
+ Expenses – Liabilities.
Multiple Choice Question 133
A trial balance may balance even when each of the following
occurs except when
a transposition error is made.
a journal entry is posted twice.
incorrect accounts are used in journalizing.
a transaction is not journalized.
Multiple Choice Question 43
An accounting time period that is one year in length, but does not
begin on January 1, is referred to as
a fiscal year.