ACG 2021 Clicker Questions Exam 1 Fall 2017.pptx

ACG 2021 Clicker Questions Exam 1 Fall 2017.pptx - ACG 2021...

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ACG 2021 Clicker Questions Exam 1 – Fall 2017
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Which of the following statements about quizzes is false? A. Quizzes are due on certain Mondays, by 11:59 PM B. Quizzes are 15 minutes each, with 1 attempt allowed per quiz C. Quizzes are meant to test conceptual knowledge and encourage you to keep up with the reading and class materials and help you earn points, but are not as difficult and exams D. Makeup quizzes are allowed
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Which of the following statements about quizzes is false? A. Quizzes are due on certain Mondays, by 11:59 PM B. Quizzes are 15 minutes each, with 1 attempt allowed per quiz C. Quizzes are meant to test conceptual knowledge and encourage you to keep up with the reading and class materials and help you earn points, but are not as difficult and exams D. Makeup quizzes are allowed
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If USF spent $10 million dollars building the new dorms (with cash), what is the result of that transaction? A. Assets decreased, liabilities increased B. Assets increased, equity increased C. Assets increased and decreased D. Assets decreased and equity decreased
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If USF spent $10 million dollars building the new dorms (with cash), what is the result of that transaction? A. Assets decreased, liabilities increased B. Assets increased, equity increased C. Assets increased and decreased D. Assets decreased and equity decreased
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All but which of the following are on a balance sheet? A. Expenses B. Assets C. Payables D. Retained earnings
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All but which of the following are on a balance sheet? A. Expenses B. Assets C. Payables D. Retained earnings
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Gym equipment at the YMCA would be considered a: A. Expense on the income statement B. An asset on the income statement C. An asset on the balance sheet D. A liability on the balance sheet
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Gym equipment at the YMCA would be considered a: A. Expense on the income statement B. An asset on the income statement C. An asset on the balance sheet D. A liability on the balance sheet
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All but which of the following accounts are liabilities on the balance sheet? A. Notes payable B. Unearned Revenues C. Accrued liabilities D. Dividends
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All but which of the following accounts are liabilities on the balance sheet? A. Notes payable B. Unearned Revenues C. Accrued liabilities D. Dividends
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Which of the following statements is FALSE? A. A trial balance is prepared at the end of the month, after items have been posted to the general ledger. B. Journal entries are posted in the general journal, and then amounts are posted to the general ledger. C. The balance sheet is prepared first, then the income statement, then the statement of retained earnings. D. A trial balance ensures that all debits = all credits.
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Which of the following statements is FALSE? A. A trial balance is prepared at the end of the month, after items have been posted to the general ledger.
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