Accounting 1 WK 1 TUTORIAL QUIZ - Question Type Questions...

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Question Type: # Questions: # Correct: True/False 4 3 Multiple choice 6 1 JavaScript is required for your course. Please ensure JavaScript is enabled in your browser preferences. Grade Details 1. Question: Source documents provide evidence of business transactions and are the basis for accounting entries. Your Answer: True CORREC T False Points Received: 6 of 6 Comments: 2. Question: Dividends are a form of business expense. Your Answer: True INCORRECT False CORRECT ANSWER Points Received: 0 of 6 Comments: 3. Question: As prepaid expenses are used up, these costs of the assets become expenses. Your Answer: True CORREC T False Points Received: 6 of 6 Comments: 4. Question: When a company bills a customer for $600 for services rendered, the journal entry to record this transaction will include a $600 debit to Services Revenue. Your Answer: True False CORREC T Points Received: 6 of 6 Comments: 5. Question: An account used to record the owner's investments in the business is called:
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Your Answer: Dividends.
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