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| 1.
What is the normal balance for an expense account? |
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| 2.
The act of transferring the information from the General Journal to the General Ledger is called what? |
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| 3.
What does the accounting acronym G.A.A.P. stand for? |
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| 4.
The abbreviations for debit and credit (Dr. and Cr.) come from what language, and mean what? |
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| 5.
True or False? To "debit" an account means to add to it. |
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| 6.
What kind of balance sheet makes distinctions between current and capital assets? |
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| 7.
How do you get the Current Ratio? |
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| 8.
True or False? If a mistake is made in a journal entry, two correcting entries are required to fix it. |
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| 9.
When we talk about accounting, what kind of job do we mean? |
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| 10.
Which part of the G.A.A.P. is "the assumption that economic events can be identified with a particular unit of accountability"? |
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| 11.
Which form of accounting states that transactions are to be recorded in the period that they occur? |
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| 12.
Usually, what asset account in a company's ledger is the most liquid? |
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| 13.
Which kind of accountant would you go to to have prepare your income tax documentation, public or private? |
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| 14.
What does the certification CA stand for (in Canada)? |
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| 15.
When you have yet to bill a customer for services rendered and have not received the money in the same financial period that the service was performed, then the transaction is recorded as a(n) ________ (assume accrual basis of accounting)? |
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