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Chapter 2--Analyzing Transactions

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Question;117. Proof;that the dollar amount of the debits equals the dollar amount of the credits in;the ledger means;A. all of the information from the journal was correctly;transferred to the ledger;B. all accounts have their correct balances in the ledger;C. only the journal is accurate, the ledger may be incorrect;D. only that the debit dollar amounts equal the credit dollar;amounts;118. Which;of the following is true about a T-Account?;A. Left hand side of the T-Account is called a debit.;B. Left hand side of the T-Accounts is called a credit;C. Right hand side of the T-Account is called a debit;D. None are true.;119. Which;of the following abbreviations is correct?;A. Debit ?Dr?, Credit ?Cd?;B. Debit ?Db?, Credit ?Cr?;C. Debit ?Db?, Credit ?Cd?;D. Debit ?Dr?, Credit ?Cr?;120. Which;side of the account increases a cash account?;A. credit;B. neither a debit or a credit;C. debit;D. either a debit or a credit;121. A;cash payment is recorded on the cash account as a;A. neither a debit or a credit;B. credit;C. debit;D. either a debit or a credit;122. The;balance of the account is determined by;A. adding all of the debits to all of the credits.;B. always subtracting the debits from the credits.;C. always subtracting the credits from the debits.;D. adding all of the debits, adding all of the credits, and then;subtracting the smaller sum from the larger sum.;123. A;list of the accounts is called;A. ledger;B. chart of accounts;C. T-Account;D. Debit;124. On;the chart of accounts, the balance sheet accounts are normally listed in the;following order;A. liabilities, assets, owner?s equity;B. assets, liabilities, owner?s equity;C. owner?s equity, assets, liabilities;D. assets, owner?s equity, liabilities

 

Paper#55151 | Written in 18-Jul-2015

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