Quiz
Accounting Finale
Questions in this quiz (25)
1What does FUTA Stand for
- AFederal Unemployment Tax Administration
- BState Unemployment Tax Administration
- AFederal Unemployment Tax Administration
2What is Step 8 of the accounting Process
- APost Closing Entires
- BPreparing Finical Statement
3Which heading is correct for Income Statement
- AFinical Document, Company Name, Dates
- BFinical Document, Company Name, Date
4What is Step three of the finical Statement
- AAnalyze
- BPost to general Ledger
5Which one is DR
- AAssest, W/D, Expense
- BLiability, Capital, Revenue
6If you a credit transaction you have a debit transaction
- ATrue
- BFalse
7If you have a debit transaction you have a debit transaction
- ATrue
- BFalse
8What is posting to the general Ledger
- APutting Transaction in the correct account
- Bwe use T-Chart and Show the balance using a footing
9Prepaid is an asset
- ATrue
- BFalse
10What is a Adjustment Balance
- ABeginning Balance-Ending Balance
- BEnding Balance- Beginning Balance
11Are wages payable Debit or Credit?
- ADebit
- BCredit
12Are Wages Expenses Debit or Credit?
- ACredit
- BDebit
13Depreciation is when equipment gained value
- ATrue
- BFalse
14What do you do when you are done with adjustments
- AExtend Worksheet
- BCreate balance sheet
15What are Adjusting Entires
- ASupplies/ Inventory
- BWages Payable
- CPrepaid Expense
- DDepreciation
16Is step Nine of the account Process
- APost- Closing Trial Balance
- BClosing the books/ post closing entires
17Defien Accural Accounting
- AHas a right to something at the time wither received or payed it is a revenue or expense
- BHas a right to something at the time wither received or Payed it is a Credit
18The difference between capital and cash is capital you invest
- ATrue
- BFalse
19In the account T-Chart Debits are on the left?
- ATrue
- BFalse
20Step three of the accounting formula is Posting to the General Ledger
- ATrue
- BFalse
21What is the percentage of SS
- A6.2%
- B1.45%
22What is the percentage of MDCR
- A6.2%
- B1.45%
23Petty chas is an imp rest account its always changing
- ATrue
- BFalse
24Bank Rec is to make sure the bank matches your books
- ATrue
- BFalse
25Closed accounts
- Arevenue
- BW/D
- CExpense
- DCredit
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- Description
- Quiz on Accounting Finale , created by jessicamarie186 on 19/08/2015.
- Author
- jessicamarie186
- Language
- English
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