quiz 3 - SubmittedbyTran,Khoa(KHOTRAN1)on1/26/20129:24:52PM...

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Submitted by Tran, Khoa (KHOTRAN1) on 1/26/2012 9:24:52 PM Points Awarded 9.00 Points Missed 1.00 Percentage 90.0% 1.  Which of the following is a real (permanent) account?  A) Goodwill  B) Sales  C) Accounts Receivable  D) Both Goodwill and Accounts Receivable  Points  Earned:  1.0/1.0  Correct Answer(s): D 2.  A journal entry to record a payment on account will include a  A) debit to  accounts receivable B) credit to  accounts receivable.   C) debit to  accounts payable.   D) credit to  accounts payable.   Points  Earned:  1.0/1.0  Correct Answer(s): C 3.  An adjusting entry should never include  A) a debit to an expense account and a credit to a liability account.  B) a debit to an expense account and a credit to a revenue account.  C) a debit to a liability account and a credit to revenue account.  D) a debit to a revenue account and a credit to a liability account.  Points  Earned:  1.0/1.0  Correct Answer(s): B
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This note was uploaded on 02/15/2012 for the course ACCT 2402 taught by Professor Lewis during the Spring '10 term at Lone Star College System.

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quiz 3 - SubmittedbyTran,Khoa(KHOTRAN1)on1/26/20129:24:52PM...

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