Bookkeeping guide - Study guides, Class notes & Summaries

DIT-Bookkeeping Exam Study guide

Quickbooks Online Certification Exam Guide (2024/2025 Update) Questions and Verified Answers| Grade A| 100% Correct Q: Industry trends Answer: While you need to take the time to understand each client's specific requirements, there are some common themes and pain points based on which industry they're in. These are five common business industry types, and each comes with its own pain points: - Professional services - Contractor/field services - Retail and e-commerce - B2B whole...

Accounting for Decision Makers - C213 Exam Study Guide with Complete Solutions Accounting - Correct Answer A system of providing "quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions." American Institute of Certified Public Accountants (AICPA) - Correct Answer The professional organization of certified public accountants in the United States. Balance Sheet - Correct Answer Document which reports the r...

DIT-Bookkeeping Exam Study guide Exam with Complete Solutions

CERTIFIED BOOKKEEPING PROFESSIONAL CERTIFICATION STUDY GUIDE

BOOKKEEPING TEST GUIDE

BOOKKEEPING STUDY GUIDE EXAM REVIEW QUESTIONS AND ANSWERS Decreases assets - ANSWER-Credit Increases assets - ANSWER-Debit Amounts paid out for expenses of the business practice - ANSWER-Accounts payable Amount that is written off and not collected - ANSWER-Adjustment Bookkeeping system that requires that equal debits and credits are recorded for each transaction - ANSWER-Double entry accounting To carry forward the balance of an individual ledger - ANSWER-Extend Owner's ne...

DIT Question and answers correctly solved 2024 DIT-Bookkeeping Exam Study guide, 6 Ledger accounting and double entry bookkeeping When should a company adjust its inventory balance? - correct answer When the physical count does not match inventory balance on the books. What is FICA - correct answer It is a combination of Social Security, and Medicare taxes What test displays previous financials in side-by-side columns, enabling investors to identify trends, track a company's pro...

At which level of Bloom's Taxonomy does the following question test a student? "Which of the following regulates advertising and pricing practices to protect consumers? A) Generally Accepted Accounting Principles B) North American Free Trade Agreement C) Food and Drug Administration D) Federal Trade Commission E) Children's Online Privacy Protection Act" - correct answer Knowledge At which level of Bloom's Taxonomy does the following question test a student? "True or False: Acc...