Bookkeeping Cycle Quiz No. 1
5 Questions
|
By Jhayfox14 | Updated: Mar 20, 2022
| Attempts: 565

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1.
It is the task of recording, classifying and summarizing of financial transactions and events.
A. 
B. 
C. 
D. 
2.
Refers to an entry on the left side of an account.
A. 
B. 
C. 
D. 
3.
Refers to an entry on the right side of an account.
A. 
B. 
C. 
D. 
4.
The purpose of posting to a ledger is to apply the deposits and charges to the specific account in which they belong.
5.
A ledger is a compilation of accounts.
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