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Accounting final exam

Fifteen questions on all of Accounting. Answer all 15 to see your score. Questions are drawn from a bank of 45, so every attempt is different.

0 of 15 answered

Question 1 of 15

The accounting equation is:

Question 2 of 15

Expenses increase with:

Question 3 of 15

The normal balance of a liability is a:

Question 4 of 15

Paying cash for rent is recorded as:

Question 5 of 15

A trial balance cannot detect:

Question 6 of 15

Temporary accounts are closed to:

Question 7 of 15

Gross profit equals:

Question 8 of 15

The balance sheet reports:

Question 9 of 15

Ending retained earnings equal:

Question 10 of 15

In the indirect method, depreciation is:

Question 11 of 15

Paying dividends is, under US GAAP, a(n):

Question 12 of 15

Accrual accounting records revenue when:

Question 13 of 15

Prepaid insurance used up is recorded as:

Question 14 of 15

Accrued wages at year end are recorded as:

Question 15 of 15

Cost 20,000, residual 2,000, life 6 years. Straight-line depreciation is:

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