Weekly Quiz - 1

3 Questions

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Questions and Answers
  • 1. 
    According to the FASB conceptual framework, an entity's revenue may result from
    • A. 

      A decrease in an asset from primary operations

    • B. 

      An increase in a liability from incidental transactions

    • C. 

      A decrease in a liability from primary operations

  • 2. 
    For effective internal control, the accounts payable department generally should
    • A. 

      Stamp, perforoate, or otherwise cancel supporting documentation after payment is mailed

    • B. 

      Ascertain that each requisition is approved as to price, quantiy, and quality by an authorized person

    • C. 

      Establish the agreement of the vendor's invoice with the receiving report and purchase order.

    • D. 

      Obliterate the quantity ordered on the receiving department copy of the purchase order

  • 3. 
    In Excel, what's the hot key to go to the last cell in data region?
    • A. 

      Ctrl + Page Down

    • B. 

      Ctrl + End

    • C. 

      Ctrl + P