ACC 102 -WEEK 1_ Practice Quiz Chapter 6.docx

ACC 102 -WEEK 1_ Practice Quiz Chapter 6.docx - Practice...

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Practice Quiz Chapter 6   Question 1 2 / 2 pts One of the purposes of closing entries is to transfer net income or net loss for the period to the owner's capital account. Correct!    True      Question 2 2 / 2 pts Which of the following accounts is not closed? Correct!    Cash   Question 3 2 / 2 pts Which of the following accounts is a permanent account? Correct!    Supplies   Question 4 2 / 2 pts Which of the following accounts has a normal debit balance? Correct!    Accounts Receivable  
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Question 5 0 / 0 pts After the closing entries are posted to the ledger, each expense account will have a zero balance.   Question 6 0 / 0 pts Which of the following accounts is not closed?
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