Accounting final Exam Study Guide

Which type of accountant is able to work with multiple clients in different industries?

Which of the following does a debit represent?

Which of the following correctly defines the acronym GAAP?

Which of the following is NOT an example of an expense?

Which of the following types of journals records payments which decrease cash?

Which of the following accounts would be credit to set up a petty cash fund?

Which of the following can be defined as an individual who owns a part of a company through stock ownership?

Which of the following terms refers to people who have interest in a company such as investor or an employee?

A company issuing a press release about a recall of a product is an example of which of the following principles?

Where would an increase in an asset be placed on a T-Account?

Which of the following ensures information is available only to those authorized to have access?

Which of the following refers to taking money out of a bank?

Which of the following accounts would be credited if Babysitter world paid all employees for their work in April?

Which type of accountant specializes in examining accounting transactions for law enforcement?

Which of the following is NOT an asset for a clothing store?

In exchange for early payment, Bike Town reduced Angela's bill by $10. Which of following types of transactions is this?

Which of the following refers to a company's moral duty to uphold laws and regulations?

Which type of business does NOT provide physical goods to a customer?

Which of the following is a public sector organization which oversees stock trading and accounting practices?

Deposit was made on Nov 29 and bank statement was printed on Nov 28. How would deposit be listed on bank reconciliation?

Which of the following indicates at least two accounts are affected by a transaction?

Which of the following terms describes the scenario of a company earning less than the amount the company spends ?

Which of the following is NOT an example of a liability?

Which term describes the spending of company money to purchase goods for individual use?

Julia returned a $23 wallet she purchased with cash from a boutique. Which of the following is correct journal entry?

Under which of the following categories would land appear on a balance sheet

Which of the following refers to the process of verifying the bank statement amounts match company cash amounts?

Which of the following refers to the balance an account is always supposed to have?

A petty cash fund was used to buy gas of $25, a paper of $32 and snacks of $15. What would entry be to replenish account

Which of the following financial statements shows how profitable a company is during a certain accounting period?

Which of the following statements describes how bookkeeping is different from accounting?

Which of the following types of information is found on the income statement?

Which of the following occurs when the amount of money earned is greater than the amount of money spent?

Which of the following is a public document which shows a company's assets and liabilities?

Which of the following refers to the time frame when certain accounting transactions occur?