* What is the normal balance for an expense account?
* The act of transferring the information from the General Journal to the General Ledger is called what?
* The abbreviations for debit and credit (Dr. and Cr.) come from what language, and mean what?
* What kind of balance sheet makes distinctions between current and capital assets?
* How do you get the Current Ratio?
* When we talk about accounting, what kind of job do we mean?
* Which part of the G.A.A.P. is "the assumption that economic events can be identified with a particular unit of accountability"?
* Which form of accounting states that transactions are to be recorded in the period that they occur?
* When you bill a customer for services rendered but do not receive the money in the same financial period, then the transaction is recorded as a(n) ________ (assume accrual basis of accounting)?
* A primary user of accounting information with a direct financial interest in the business is a...?
* Accounting for government, foundations, hospitals, labour unions, colleges/universities, and charities is part of which broad category within the accounting profession?
* Prior to the recording of adjusting entries, revenues exceed expenses by $60,000. Adjusting entires for accrued wages of $5,000 and an amortization expense of $5,000 were made. Net income for the year would be?
* The proper sequence for the accounting cycle is?
* The adjustment for amortization is an example of?
* A $100 petty cash fund has cash of $21 and valid receipts for $80. The journal entry upon replenishment would include a...?
* 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...?
* Which of the following is not an acceptable statement of the basic accounting equation?
* Which of the following accounts would be increased with a debit?
* The financial statement that summarizes information concerning the cash inflows and outflows during a period is the ...?