We have sent an email with your new password.


Chapter 3 Accounting

8 Questions  I  By Txprincessshan
Accounting Quizzes & Trivia
Accounting Qiuz

  
Changes are done, please start the quiz.


Question Excerpt

Removing question excerpt is a premium feature

Upgrade and get a lot more done!
1.  What is the proper adjusting entry at April 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $16,000, and unexpired amounts per analysis of policies, $6,000?
A.
B.
C.
2.  The revenue recognition concept
A.
B.
C.
3.  An adjusting entry would adjust an expense account so the expense is reported when incurred.
A.
B.
4.  The entry to adjust for the cost of supplies used during the accounting period is
A.
B.
C.
5.  The revenue recognition concept states that revenue should be recorded in the same period as the cash is received.
A.
B.
6.  Proper reporting of revenues and expenses in a period is due to the accounting period concept.
A.
B.
7.  Generally accepted accounting principles requires that companies use the ____ of accounting.
A.
B.
C.
8.  By matching revenues and expenses in the same period in which they incur
A.
B.
C.
Back to top

Removing ad is a premium feature

Upgrade and get a lot more done!
Take Another Quiz