SOME SAMPLE QUESTIONS ARE GIVEN BELOW OUT OF
THOSE 200 QUESTIONS
1) A correcting entry
is another name for a closing entry.
may involve any combination of accounts.
is a required step in the accounting cycle.
must involve one balance sheet account and one income statement
account
2) A double rule applied to accounts in the ledger during the closing
process implies that
the account balance is not zero.
a mistake has been made, since double ruling is prescribed.
the account is a temporary account.
the account is a balance sheet account
3) The first required step in the accounting cycle is
posting transactions.
reversing entries.
journalizing transactions in the book of original entry.
analyzing transactions.