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Bookkeeping Certification Practice Test Exam Questions With Solutions 100% Correct
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Bookkeeping Certification Practice Test Exam Questions With Solutions 100% Correct Springville Distributors made sales using a list prie of $880 and a trade discount of 30%. What amount should be recorded for the sale? A) $594 B) $216 C) $264 D) $616 D Laws passed by Congress in 1933 and 1...

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  • September 15, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • bookkeeping certification practice test exam
  • questions with solutions 100 correct

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  • ASB BOOKKEEPING
  • ASB BOOKKEEPING

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Bookkeeping Certification Practice Test Exam
Questions With Solutions 100% Correct

Springville Distributors made sales using a list prie of $880 and a trade discount of 30%. What

amount should be recorded for the sale?

A) $594

B) $216

C) $264


D) $616 D




Laws passed by Congress in 1933 and 1934 gave the Securities and Exchange Commission

(SEC) final say on matters of financial reporting by publicly owned corporations.

A) True


B) False A




When equipment is purchased for cash,

A) one asset increases and another asset decreases

B) assets decrease and expenses increase

C) assets and owner's equity increase

, Bookkeeping Certification Practice Test Exam
Questions With Solutions 100% Correct
D) assets increase and liabilities decrease A




Tax planning is any activity associated with the preparation of tax returns and the audit of those

returns.

A) True


B) False B




The frequency of deposits of federal income taxes withheld and social security and Medicare

taxes is determined by the amount owed.

A) True


B) False A




Which of the following is not a reason why the book balance of cash may not agree with the

balance on the bank statement?

A) Outstanding checks

B) End of the month

C) Service charges and other deductions


D) Deposit in transit B

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