Submitted by: Submitted by hjones
Views: 125
Words: 500
Pages: 2
Category: Business and Industry
Date Submitted: 09/15/2013 09:55 PM
Course Business 7 Sec EN1 (30676) Spring 2013
Test Chapter 4 Quiz
Started 3/8/13 10:31 PM
Submitted 3/8/13 10:55 PM
Status Completed
Score 8 out of 10 points
Time Elapsed 24 minutes out of 4 second out of 30 minutes.
Instructions
• Question 1
1 out of 1 points
Which of the following statements is not correct?
Answer
Selected Answer:
The credit portion of a general journal entry is always recorded first.
Correct Answer:
The credit portion of a general journal entry is always recorded first.
• Question 2
1 out of 1 points
When an entry is made in the general journal,
Answer
Selected Answer:
the accounts to be credited should be indented.
Correct Answer:
the accounts to be credited should be indented.
• Question 3
1 out of 1 points
When an entry is made in the general journal,
Answer
Selected Answer:
accounts to be debited should be listed first.
Correct Answer:
accounts to be debited should be listed first.
• Question 4
1 out of 1 points
The journal entry to record the sale of services on credit should include
Answer
Selected Answer:
a debit to Accounts Receivable and a credit to Fees Income.
Correct Answer:
a debit to Accounts Receivable and a credit to Fees Income.
• Question 5
0 out of 1 points
If a transaction is properly analyzed and recorded,
Answer
Selected Answer:
one account balance will increase and another will decrease.
Correct Answer:
the total amount debited will equal the total amount credited.
• Question 6
1 out of 1 points
The journal entry to record the payment of a monthly utility bill would include
Answer
Selected Answer:
a debit to Utilities Expense and a credit to Cash.
Correct Answer:
a debit to Utilities Expense and a credit to Cash.
• Question 7
0 out of 1 points
The journal entry to record the performance of services for cash would...