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Bookkeeping Test questions with complete solutions graded A+
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Bookkeeping Test questions with complete solutions graded A+
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Bookkeeping TestA listing of the account numbers and titles but without account balances is the ______________ of
accounts. - correct answer ✔✔Chart
Prior to approving a vendor's invoice for payment, the invoice, receiving ticket, and ______________
order should be compared. - correct answer ✔✔Purchases
The report that sorts a company's accounts receivables into current, 1-30 days past due, 31-60 days past
due, etc. is referred to as the ______________ of accounts receivable. - correct answer ✔✔Aging
The amount of insurance premiums that have not yet expired is reported as an ______________. -
correct answer ✔✔Assets
Adjusting entries are recorded in the ______________ journal. - correct answer ✔✔General
The bank statement has an ending balance of $1,700. There are $600 of deposits in transit
and $2,100 of checks outstanding. The adjusted balance per the bank statement is $______________. -
correct answer ✔✔$200.00
Which of the following will increase the balance in a liability account? - correct answer ✔✔Credit
Which of the following will increase the balance in a revenue account? - correct answer ✔✔Credit
Rent Expense, Wages Expense, and Advertising Expense are expected to have ____________ balances. -
correct answer ✔✔Debit
10. The cost of the land that is used as the site of a new warehouse should be depreciated. - correct
answer ✔✔False
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