There are some basic principles that every accountant needs to be aware of when it comes to accounting practices. Have you just begun your accounting course and have the final exam in less than a week? If so, then this Accounting 1 final exam practice test is what you need to ace it. Why don’t you give it a shot!
Withdrawals
Accounting
Asset
Chart of Accounts
Owner's Equity; Assets
Accounting; Revenue
Withdrawals; Credit
Assets; Owner's Equity
Liability
Asset
Revenue
Expense
A business that performs an activity for a fee.
Planned process for providing financial information.
Planning, recording, analyzing, and interpreting financial information.
None of the above
Cash Debit and Sales Credit
Cash Credit and Sales Debit
Cash Credit and Sales Owner's Equity
Cash Owner's Equity and Sales Credit
Check
Revenue
Invoice
Proving Cash
Wholesale Merchandising Business
Service Business