General ledger questions - Study guides, Class notes & Summaries
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Funeral Arts National Board Exam ACTUAL Exam Questions and CORRECT Answers
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Funeral Arts National Board Exam ACTUAL 
Exam Questions and CORRECT Answers 
Register of all the general ledger accounts - CORRECT ANSWER - Will Show profits and 
losses of a business 
Difference between currents assets and liabilities. When current assets exceed liabilities - 
CORRECT ANSWER - Working Capital
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AIS Test 1 Questions with 100% Verified Correct Answers Complete
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AIS Test 1 Questions with 100% Verified Correct Answers Complete 
General Ledger - Correct Answer contains summary-level data for every asset, liability, equity, revenue, and expense account 
 
Sequence Code - Correct Answer items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence 
 
Audit Trail - Correct Answer Path of a transaction through a data processing system from point of origin to final output, or backwards from final output to point...
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Financial And Managerial Accounting 15th Edition By jan Williams -Test Bank
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TIFFACADEMICS
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3. The running balance form or the T account form is typically used in the trial balance to 
display the accounts and their amounts. 
True False 
4. Dividends are an expense of a corporation and reduce both total assets and liabilities. 
True False 
5. Dividends increase owners’ equity and therefore should be added to retained earnings. 
True False 
6. Every business transaction is recorded by a debit to a balance sheet account and a credit to 
an income statement account. 
True False 
7. Earn...
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Accounting Information Systems 14th Edition (Romney, 2017) Test Bank, Questions and Answers- All Chapters
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Accounting Information Systems Test Bank 14th Edition (Romney, 2017), Questions and Answers- All Chapters. Part I: Conceptual Foundations of Accounting Information Systems 1. Accounting Information Systems: An Overview 2. Overview of Transaction Processing and Enterprise ¿Resource Planning Systems 3. Systems Documentation Techniques 4. Relational Databases Part II: Control and Audit of Accounting Information Systems 5. Fraud 6. Computer Fraud and Abuse Techniques 7. Control and Accounting Infor...
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BBK99E1 Practical Final Exam Questions and Answers Sheets.
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BBK99E1 Practical Final Exam Questions and Answers Sheets. Basic Bookkeeping – Level 1 
F I N A L EX A M 
V4.0 CU07-08-FEB07 
PRACTICAL EXAM ANSWER 
SHEETS No. of Pages to this Answer Sheet Section: 
Name: 
Total available marks from Practical Exam Questions: 60 
The Online Exam is made up of 50 multiple choice and/or True or False questions. Each 
question is worth 2 marks. Of the 50 questions, 30 are directly related to the 
information you will enter on the Answer Sheets during the Practica...
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Peregrine Exam Questions | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS
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Peregrine Exam Questions | 
Questions and Correct 
Answers | Latest Update 
2024/2025 | 100% PASS 
What is a general ledger? - Answer -A general ledger account is an 
account or record used to sort, store and summarize a company's 
transactions. 
asset accounts such as Cash, Accounts Receivable, Inventory, 
Investments, Land, and Equipment 
liability accounts including Notes Payable, Accounts Payable, Accrued 
Expenses Payable, and Customer Deposits 
stockholders' equity accounts such as C...
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Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Tested Exam Questions Reviewed And Revised With Correct Answers Already Passed!!
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Intuit Academy Bookkeeping 
Professional Certificate: 
Bookkeeping Tested Exam 
Questions Reviewed And Revised 
With Correct Answers 
Already Passed!! 
1) General Journal - ANSWER 
organized chronologically 
A list of transactions 
2) Posting to the Ledger - ANSWER 
transfer transactions 
entered in the journal to the general ledger and categorize 
transactions by account 
3) Accounting Cycle - ANSWER 
a collective process of 
identifying, analyzing, and recording the ...
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Bookkeeping Basics UPDATED Exam Questions and CORRECT Answers
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Bookkeeping Basics UPDATED Exam 
Questions and CORRECT Answers 
What is the first step in the accounting cycle? 
a) Preparing financial statements 
b) Making adjustments 
c) Posting transactions to the general ledger 
d) Reviewing source documents and analyzing transactions - CORRECT ANSWER - d) 
Reviewing source documents and analyzing transaction
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Bookkeeping Ch 1-6 Questions and Answers Already Passed
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Bookkeeping Ch 1-6 Questions and 
 
Answers Already Passed 
 
What is the primary purpose of bookkeeping? 
 The primary purpose of bookkeeping is to systematically record and organize financial 
transactions to provide accurate financial information. 
 
What is an account in bookkeeping? 
 An account is a record used to track financial transactions related to a specific asset, 
liability, equity, revenue, or expense. 
 
What is the difference between a debit and a credit? 
 
 A debit increases a...
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AAT Level 2 - Bookkeeping Controls Questions and Answers 100% Pass
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AAT Level 2 - Bookkeeping Controls 
Questions and Answers 100% Pass 
 
What is the function of a sales ledger in bookkeeping? 
 The sales ledger records all transactions related to sales on credit, including amounts owed 
by customers and details of each sale. 
 
How should discrepancies between internal records and the bank statement be addressed? 
 Discrepancies should be reviewed and investigated to determine the cause, and necessary 
adjustments should be made to ensure accuracy in the recor...
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