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Welcome to our world of fun trivia quizzes and quiz games:
"Here is another accounting quiz. Once again, please remember that I am a Canadian, so there may or not be some small differences."
15 Points Per Correct Answer - No time limit
A group of accounts with a common characteristic, such as all customer accounts is a...?
Net credit sales are normally sold on terms of n/30 (net in 30 days). Net credit sales total $50,000, and the average net accounts receivable is $5,000 in the current period. The collection period ratio is...?
The Canadian Institute of Chartered Accountants assumes responsibility for establishing broad reporting guidelines of general applicability as well as specific accounting rules.
Which of the following is *not* an acceptable statement of the basic accounting equation?
Assets - Owner's Equity = Liabilities
Assets - Liabilities = Owner's Equity
Assets = Liabilities + Owner's Debt
Assets = Liabilities + Owner's Equity
Which of the following accounts would be increased with a debit?
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Compiled Jun 28 12