UCB UGBA102A Topic02 Practice Questions

UCB UGBA102A Topic02 Practice Questions - Topic02...

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Topic02 Accounting System: Transaction Analysis Question 1. In a short sentence, define the following terms: a. Transaction b. Account c. Chart of Accounts d. General Ledger e. Trial Balance Question 2. In a short sentence, explain the difference between the following concepts: c. Question 3. Classify the following balance sheet accounts for Downey Uniform Service. Use the following code: CA = Current Assets; NCA = Noncurrent Assets; CL = Current Liabilities; NCL = Noncurrent Liabilities; and SE = Stockholders’ Equity. a. Investments in Affiliates b. Retained Earnings c. Notes Payable Due in 3 Months d. Land e. Marketable Securities f. Bonds Payable g. Supplies h. Contributed Capital i. Notes Payable Due in 5 Years j. Income Taxes Payable UGBA102A Topic02 Practice Questions 1
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Question 4. The accounts with identification letters for WidWorld, Inc. are listed below.
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UCB UGBA102A Topic02 Practice Questions - Topic02...

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