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Chapter 2: Measurement Concepts: Recording Business Transactions

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Question;97. To;find a description of a transaction, one should look at the;A. ledger.;B. trial balance.;C. journal.;D. chart of accounts.;98. Which;of the following accounts might be placed first in a journal entry?;A. Interest Payable, when it has been decreased.;B. Accounts Receivable, when it has been decreased.;C. Unearned Revenue, when it has been increased.;D. Service Revenue, when it has been increased.;99. Which;of the following accounts would be placed after the debit(s) in a journal;entry?;A. Interest Payable, when it has been decreased.;B. Accounts Receivable, when it has been decreased.;C. Unearned Revenue, when it has been decreased.;D. Dividends, when it has been increased.;100. Which;of the following statements is false about a journal entry?;A. All debits are always listed before any credits.;B. It may have more than one debit or credit entry.;C. Credits are always indented.;D. Accounts that are increased are always listed first.;101. Which;of the following accounts should be debited in a journal entry?;A. Accounts Receivable, when it has been decreased.;B. Dividends, when it has been increased.;C. Wages Payable, when it has been increased.;D. All of these choices.;102. The;process of transferring journal entry information from the journal to the;ledger is called;A. journalizing.;B. posting.;C. footing.;D. analyzing.;103. The;account most recently posted is determined most efficiently by referring to;the;A. Post. Ref. column of the ledger.;B. balance column of the ledger.;C. date column of the general journal.;D. Post. Ref. column of the general journal.;104. Posting;is performed by transferring information from the;A. source documents to the journal.;B. source documents to the ledger.;C. journal to the ledger.;D. ledger to the journal.

 

Paper#55137 | Written in 18-Jul-2015

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