AC201Quiz2

AC201Quiz2 - AC 201 Principles of Accounting I Park...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
AC 201 Principles of Accounting I Name__Alcedo Sanchez______________ Park University Version A Quiz #2-Chapter 3 Multiple Choice Questions ( 10 points each ) Select the ONE, BEST Answer 1. Adjusting entries: A. Affect only income statement accounts. B. Affect only balance sheet accounts. C. Affect both income statement and balance sheet accounts. D. Affect only cash flow statement accounts. E. Affect only equity accounts. 2. An adjusting entry could be made for each of the following except: A. Prepaid expenses. B. Depreciation. C. Owner withdrawals. D. Unearned revenues. E. Accrued revenues. 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
3. Accrued revenues: A. At the end of one accounting period often result in cash receipts from customers in the next period. B. At the end of one accounting period often result in cash payments in the next period. C. Are also called unearned revenues. D. Are listed on the balance sheet as liabilities. E.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/15/2011 for the course AC 201 taught by Professor Leland during the Spring '10 term at Park.

Page1 / 3

AC201Quiz2 - AC 201 Principles of Accounting I Park...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online