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Senior/Principal Account Clerk Civil Service Tests with 100% correct answers
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  • Senior/Principal Account Clerk Civil Service T

Interim statements (interim financial statements) correct answersFinancial statements covering periods of less than one year; usually based on one-, three-, or six-month periods. Income Statement correct answersA financial statement that reports a company's revenues and expenses and resulting ne...

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  • September 5, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • seniorprincipal account clerk civil service tests

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  • Senior/Principal Account Clerk Civil Service T
  • Senior/Principal Account Clerk Civil Service T

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Senior/Principal Account Clerk Civil
Service Tests

Interim statements (interim financial statements) correct answersFinancial statements covering periods
of less than one year; usually based on one-, three-, or six-month periods.



Income Statement correct answersA financial statement that reports a company's revenues and
expenses and resulting net income or net loss for a specific period of time.



What are the two main parts of the body of an income statement? correct answersRevenue and
Expenses



Net Income correct answersthe difference between total revenue and total expenses when total revenue
is greater



Balance Sheet correct answersA financial statement that reports assets, liabilities, and owner's equity on
a specific date.



Three sections of a balance sheet correct answersAssets, Liabilities, Capital (owner's equity)



Which journal should this transaction be recorded in?



Mona paid the month's rent $600; check no. 356



General, Purchases, Cash Disbursements, Sales correct answersCash disbursements



Which journal should this transaction be recorded in?



The salon purchased $300 worth of styling products on account from Pomme de Terre Company

, Cash Disbursements, General, Sales, Purchases correct answersPurchases



Which journal should this transaction be recorded in?



Sold $100 worth of hair products on account



Sales, Purchases, General, Cash Disbursements correct answersSales



Which journal should this transaction be recorded in?



The owner withdrew $80 of styling products for personal use



Sales, General, Cash receipts, Cash disbursements correct answersGeneral (NOT sales because personal
use)



Which journal should this transaction be recorded in?



Paid Pomme de Terre Company $300 on account, check 357



Purchases, Cash disbursements, Cash receipts, General correct answersCash disbursements (because
paid via check)



Which journal should this transaction be recorded in?



Cash sales to date were $4607



Cash disbursements, Sales, Purchases, General correct answersSales

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