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Unformatted text preview: 4. Which of the following errors will be detected when a trial balance is properly prepared? 1. An amount that was entered in the wrong account 2. A transaction that was entered twice 3. A transaction that had been omitted 4. None of the above 5. An adjusting entry will not take the format of which one of the following entries? 1. A debit to an expense account and a credit to an asset account. 2. A debit to an expense account and a credit to a revenue account. 3. A debit to an asset account and a credit to a revenue account. 4. A debit to a liability account and a credit to a revenue account. 6. The last step in the accounting cycle is to 1. prepare a post-closing trial balance. 2. analyze transactions. 3. prepare financial statements. 4. journalize and post adjusting entries....
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This note was uploaded on 12/07/2009 for the course ACCT ACCT 203 taught by Professor Kim during the Fall '09 term at HKUST.
- Fall '09