You are here

Review Questions

6 May, 2015 - 17:39

R- ac2-1:

R- ac2-2: State the rules for increasing and decreasing accounts.

R- ac2-3: List the major income statement accounts.

R- ac2-4: List what are the normal balances in type of account.

R- ac2-5: Outline how accounts are classified.

R- ac2-6: What is a chart of accounts?

R- ac2-7: Describe how data flows in a business.

R- ac2-8: How many columns do most journals have?

R- ac2-9: In what journals are there more than two columns?

R- ac2-10: What is the purpose of a trial balance?

R- ac2-11: Why are account often referred to as T accounts/

R- ac2-12: What typically is included in current assets?

R- ac2-13: How are accounts normally classified in a balance sheet?

R- ac2-14: How are accounts normally classified in an income statement?

R- ac2-15: What guides how accounts appear in the general ledger?

R- ac2-16: What must be first inscribed when journalizing entries?

R- ac2-17: What goes on the top of each account in a three column journal?

R- ac2-18: What is the first step in preparing a trial balance?