Part 1 of 4 accounting - Part 1 of 2 Lesson 4 Questions...

This preview shows page 1 - 4 out of 15 pages.

Part 1 of 4 accounting

Question 4   of 40 2.5 / 2.5 Points Which of the following groups of accounts have a normal credit balance ?
A. revenue , liabilities , and capital
B. assets , capital , and withdrawals
C. liabilities , expenses , and assets
D. assets , expenses , and withdrawals
Answer:  A.   revenue , liabilities , and capital
Question 10   of 40 0.0/ 2.5 Points Which of the following is prepared last ?
Get answer to your question and much more
Question 11   of 40 2.5 / 2.5 Points Which of the following is prepared first ?
Get answer to your question and much more
Part 1 of 2 - Lesson 4 Questions40.0/ 50.0 PointsQuestion 1 of 402.5/ 2.5 PointsA credit to an asset account was posted to the capital account. This error would cause __________.A. assets to be overstatedB. liabilities to be overstatedC. capital to be understatedD. Both A and C are correct.
Question 2 of 402.5/ 2.5 PointsA credit to an asset account was posted to a revenue account. This error would cause __________.
Question 3 of 402.5/ 2.5 PointsA debit to a liability account was posted to a revenue account. This error would cause __________.
Question 4 of 402.5/ 2.5 PointsWhich of the following groups of accounts have a normal credit balance?
Question 5 of 402.5/ 2.5 PointsA credit to an asset account was posted to the capital account. This error would cause __________.A. assets to be overstatedB. liabilities to be overstatedC. capital to be understatedD. Both A and C are correct.
Question 6 of 402.5/ 2.5 PointsA debit to an expense account was posted to a revenue account. This error would cause __________.
Question 7 of 402.5/ 2.5 PointsWhich of the following errors would cause the trial balance to be out of balance?
Question 8 of 400.0/ 2.5 PointsA credit to an asset account was posted to a revenue account. This error would cause __________.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture