Reference no: EM132782465
Question 1: The manner in which the accounting records are organized and employed within a business is referred to as
Option 1: business document.
Option 2: voucher system.
Option 3: special journal.
Option 4: accounting information system.
Question 2: The accounting cycle is
Option 1: the length of time it takes to complete set of financial statement after the books are closed.
Option 2: process that begins with adjusting entries and ends with the preparation of the financial statements.
Option 3: applicable only to manual systems, not to computerized systems.
Option 4: the sequence of procedures used by a business to process economic information and to produce financial statements.
Question 3: A ledger is defined as a collection of
Option 1: all statement of financial position accounts.
Option 2: all income statement accounts.
Option 3: account titles - asset, liability, equity, income and expense accounts.
Option 4: Transactions.
Question 4: The equality of debits and credits in the ledger should be verified at the end of each accounting period by preparing
Option 1: an accounting statement.
Option 2: an account verification report.
Option 3: a trial balance.
Option 4: a balance report.
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Compute the amount of uncollectible accounts expense
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Which the accounting records are organized
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What function that accounting journals serve in accounting
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