Acct 251 Week 6 Quiz

ACCT 251 Week 6 Quiz
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(TCO 1) The balance sheet lists:
: assets, liabilities, and capital of a business.
revenues and expenses of a business.
the percentage of revenue at the end of the year.
the percentage of debt at the end of the year.
cash disbursements.
Question 2. Question :
(TCO 1) The Income Statement’s net income or (net loss) is also shown on the:
: income statement’s revenue section.
balance sheet’s capital section.
departmental gross profit totals.
cash balance at the end of the period.
general ledger trial balance.
Question 3. Question :
(TCO 1) To use Peachtree’s masking feature, do the following to an account number.
: Add a prefix.
Add a suffix.
Add an account number.
Change the account in the general journal.
Change the account type.
Question 4. Question :
(TCO 2) The sample company chart of accounts that you use as the model for Chapter 9’s business is:
: accounting practice.
general contractor.
gift shop.
service company.
retail company.
Question 5. Question :
(TCO 2) The chart of accounts is:
: the accounts shown on the income statement.
the accounts shown on the balance sheet.
a list of accounts in the general ledger.
a list of accounts in the general journal.
a list showing account beginning balances.
Question 6. Question :
(TCO 2) The account type for Account No. 3920 (Vernon Firestone) [or your name] capital is:
: cash.
equity-gets closed.
equity-doesn’t close.
retained earning.
other current liabilities.
Question 7. Question :(TCO 3) In Chapter 11, the ______________________________ is completed before recording and posting the end-of-quarter adjusting entries.: adjusted trial balance
cash disbursements journal
unadjusted trial balance
cash receipts journal
post-closing trial balance
Question 8. Question :
(TCO 3) To print a post-closing trial balance, you need to:
: select Tasks; System, change...